Passumpsic Savings Bank Acquires Shares of 35,981 Boston Scientific Co. (NYSE:BSX)

Passumpsic Savings Bank bought a new stake in Boston Scientific Co. (NYSE:BSX - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,981 shares of the medical equipment provider's stock, valued at approximately $3,015,000. Boston Scientific comprises 2.0% of Passumpsic Savings Bank's portfolio, making the stock its 19th largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider's stock worth $345,205,000 after purchasing an additional 173,034 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Boston Scientific by 389.1% in the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider's stock worth $5,414,000 after acquiring an additional 55,645 shares during the last quarter. HWG Holdings LP acquired a new position in Boston Scientific during the 2nd quarter valued at about $482,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Boston Scientific by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider's stock worth $289,675,000 after purchasing an additional 30,636 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Boston Scientific by 153.5% in the third quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider's stock worth $16,541,000 after purchasing an additional 119,525 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Trading Up 0.4 %

Shares of NYSE BSX traded up $0.34 during midday trading on Wednesday, reaching $90.54. The company had a trading volume of 3,168,438 shares, compared to its average volume of 5,990,254. The firm's fifty day moving average price is $87.62 and its 200-day moving average price is $81.55. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a one year low of $54.95 and a one year high of $91.93. The stock has a market cap of $133.44 billion, a PE ratio of 74.77, a price-to-earnings-growth ratio of 2.65 and a beta of 0.80.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to analysts' expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm's revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 EPS. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BSX shares. Citigroup lifted their price objective on shares of Boston Scientific from $98.00 to $107.00 and gave the stock a "buy" rating in a report on Wednesday. TD Cowen lifted their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Morgan Stanley boosted their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Barclays lifted their price target on Boston Scientific from $78.00 to $86.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Finally, Mizuho boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $94.00.

Insider Transactions at Boston Scientific

In related news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares of the company's stock, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 328,157 shares of company stock worth $27,957,676. 0.50% of the stock is currently owned by insiders.

Boston Scientific Profile

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.