Erste Asset Management GmbH Takes $21.62 Million Position in Boston Scientific Co. (NYSE:BSX)

Erste Asset Management GmbH purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 259,098 shares of the medical equipment provider’s stock, valued at approximately $21,617,000.

A number of other hedge funds have also added to or reduced their stakes in BSX. CRA Financial Services LLC raised its holdings in shares of Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 117 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in Boston Scientific by 9.7% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 119 shares in the last quarter. Adero Partners LLC grew its stake in Boston Scientific by 3.6% in the 3rd quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock valued at $303,000 after buying an additional 127 shares in the last quarter. Ashton Thomas Securities LLC grew its stake in Boston Scientific by 1.3% in the 3rd quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after buying an additional 129 shares in the last quarter. Finally, CVA Family Office LLC grew its stake in Boston Scientific by 7.4% in the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after buying an additional 131 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. The trade was a 9.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This trade represents a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 328,157 shares of company stock worth $27,894,270. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BSX shares. Citigroup boosted their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Wednesday. Bank of America boosted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Barclays boosted their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Royal Bank of Canada upped their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Price Performance

Shares of BSX opened at $90.66 on Friday. The firm has a 50 day moving average of $86.70 and a 200 day moving average of $80.76. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.93. 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 company has a market capitalization of $133.62 billion, a P/E ratio of 74.93, a price-to-earnings-growth ratio of 2.67 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate 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 was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. As a group, equities research analysts anticipate that Boston Scientific Co. will post 2.46 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.