Cullen Frost Bankers Inc. Sells 5,633 Shares of Boston Scientific Corporation $BSX

Cullen Frost Bankers Inc. trimmed its position in Boston Scientific Corporation (NYSE:BSX) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 355,369 shares of the medical equipment provider’s stock after selling 5,633 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Boston Scientific were worth $34,695,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Boston Scientific by 1.1% during the 2nd quarter. State Street Corp now owns 65,191,864 shares of the medical equipment provider’s stock valued at $7,002,258,000 after acquiring an additional 713,379 shares during the last quarter. Synergy Asset Management LLC raised its stake in Boston Scientific by 3,493.0% in the third quarter. Synergy Asset Management LLC now owns 493,323 shares of the medical equipment provider’s stock valued at $48,297,000 after purchasing an additional 479,593 shares in the last quarter. Gladstone Institutional Advisory LLC lifted its position in Boston Scientific by 39.5% during the third quarter. Gladstone Institutional Advisory LLC now owns 51,884 shares of the medical equipment provider’s stock valued at $5,065,000 after purchasing an additional 14,700 shares during the last quarter. Channel Wealth LLC grew its stake in Boston Scientific by 70.8% in the 3rd quarter. Channel Wealth LLC now owns 28,577 shares of the medical equipment provider’s stock worth $2,790,000 after buying an additional 11,847 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in Boston Scientific by 106.4% in the 2nd quarter. Bank of Nova Scotia now owns 3,025,519 shares of the medical equipment provider’s stock worth $324,971,000 after buying an additional 1,559,605 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the completion of the transaction, the executive vice president directly owned 23,600 shares of the company’s stock, valued at approximately $2,396,580. This represents a 42.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the sale, the executive vice president owned 178,342 shares of the company’s stock, valued at approximately $17,739,678.74. This represents a 21.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 93,095 shares of company stock worth $9,305,450 in the last three months. 0.50% of the stock is owned by insiders.

Boston Scientific Price Performance

BSX opened at $92.56 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.96. The stock’s 50 day simple moving average is $95.70 and its 200 day simple moving average is $99.85. The firm has a market cap of $137.22 billion, a price-to-earnings ratio of 49.50, a PEG ratio of 1.64 and a beta of 0.67. Boston Scientific Corporation has a 1 year low of $85.98 and a 1 year high of $109.50.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The business’s quarterly revenue was up 20.3% compared to the same quarter last year. As a group, analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

BSX has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Canaccord Genuity Group lowered their price target on Boston Scientific from $132.00 to $131.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Oppenheimer dropped their price target on Boston Scientific from $125.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, January 16th. Robert W. Baird increased their price objective on Boston Scientific from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Finally, Needham & Company LLC reissued a “buy” rating on shares of Boston Scientific in a report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.89.

Boston Scientific Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.