Citizens Financial Group Inc. RI Grows Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Citizens Financial Group Inc. RI raised its stake in Boston Scientific Co. (NYSE:BSX) by 41.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,039 shares of the medical equipment provider’s stock after buying an additional 1,475 shares during the period. Citizens Financial Group Inc. RI’s holdings in Boston Scientific were worth $422,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new position in Boston Scientific in the 2nd quarter valued at approximately $26,000. Values First Advisors Inc. purchased a new position in shares of Boston Scientific in the third quarter valued at $28,000. Andra AP fonden purchased a new position in shares of Boston Scientific in the second quarter valued at $29,000. Lynx Investment Advisory purchased a new stake in shares of Boston Scientific in the 2nd quarter worth about $30,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Boston Scientific in the 3rd quarter worth about $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

Shares of BSX stock opened at $90.00 on Friday. The company’s fifty day simple moving average is $85.99 and its 200-day simple moving average is $80.16. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 52 week low of $53.93 and a 52 week high of $91.93. The company has a market cap of $132.64 billion, a PE ratio of 74.38, a P/E/G ratio of 2.69 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, equities research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This represents a 15.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the sale, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 314,147 shares of company stock valued at $26,643,598 over the last 90 days. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BSX shares. Mizuho lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Canaccord Genuity Group boosted their price target on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Stifel Nicolaus increased their price objective on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Morgan Stanley lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Truist Financial upped their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 14th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.39.

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.