SouthState Corp Has $13.22 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

SouthState Corp lifted its holdings in Boston Scientific Co. (NYSE:BSX) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 157,733 shares of the medical equipment provider’s stock after purchasing an additional 1,097 shares during the quarter. SouthState Corp’s holdings in Boston Scientific were worth $13,218,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BDF Gestion bought a new stake in shares of Boston Scientific in the second quarter worth $3,570,000. LRI Investments LLC acquired a new position in Boston Scientific during the first quarter worth $139,000. Cetera Advisor Networks LLC increased its holdings in Boston Scientific by 11.8% during the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock worth $13,796,000 after buying an additional 21,252 shares during the last quarter. Brookstone Capital Management increased its holdings in Boston Scientific by 389.1% during the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock worth $5,414,000 after buying an additional 55,645 shares during the last quarter. Finally, HWG Holdings LP acquired a new position in Boston Scientific during the second quarter worth $482,000. Institutional investors own 89.07% of the company’s stock.

Insider Transactions at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This represents a 45.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is currently owned by insiders.

Boston Scientific Trading Up 4.0 %

BSX opened at $90.45 on Tuesday. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.08. The company has a 50-day simple moving average of $85.42 and a 200 day simple moving average of $79.72. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $133.31 billion, a price-to-earnings ratio of 74.75, a P/E/G ratio of 2.56 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the prior year, the business posted $0.50 earnings per share. Boston Scientific’s revenue was up 19.3% compared to the same quarter last year. Analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus boosted their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. BTIG Research boosted their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Evercore ISI upped their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.39.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.