HTLF Bank Buys New Position in Boston Scientific Co. (NYSE:BSX)

HTLF Bank purchased a new position in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, Holdings Channel.com reports. The fund purchased 5,626 shares of the medical equipment provider’s stock, valued at approximately $325,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new position in shares of Boston Scientific during the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC increased its position in shares of Boston Scientific by 58.0% during the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 215 shares during the period. Coppell Advisory Solutions LLC acquired a new position in shares of Boston Scientific during the 2nd quarter valued at $34,000. Motco lifted its holdings in shares of Boston Scientific by 136.3% in the third quarter. Motco now owns 645 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 372 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in Boston Scientific during the first quarter valued at about $32,000. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BSX shares. Evercore ISI boosted their price target on shares of Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. BTIG Research reissued a “buy” rating and set a $64.00 target price on shares of Boston Scientific in a research note on Friday, December 29th. JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Mizuho upgraded Boston Scientific from a “neutral” rating to a “buy” rating and increased their price objective for the company from $65.00 to $80.00 in a research report on Thursday, February 1st. Finally, TD Cowen lifted their target price on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.50.

Insider Buying and Selling at Boston Scientific

In related news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $66.35, for a total value of $463,322.05. Following the transaction, the executive vice president now owns 53,788 shares in the company, valued at approximately $3,568,833.80. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock worth $3,418,529 over the last ninety days. 0.50% of the stock is currently owned by insiders.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $67.33 on Friday. The firm has a market cap of $98.78 billion, a price-to-earnings ratio of 62.93, a P/E/G ratio of 2.36 and a beta of 0.78. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $69.21. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $67.25 and a 200 day simple moving average of $59.84.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the business earned $0.45 EPS. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.25 earnings per share for the current fiscal year.

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.