Synovus Financial Corp Has $1.47 Million Position in Boston Scientific Co. (NYSE:BSX)

Synovus Financial Corp boosted its stake in Boston Scientific Co. (NYSE:BSX) by 7.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,518 shares of the medical equipment provider’s stock after purchasing an additional 1,167 shares during the quarter. Synovus Financial Corp’s holdings in Boston Scientific were worth $1,468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BSX. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific in the 3rd quarter valued at about $28,000. Dunhill Financial LLC raised its stake in Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares during the period. Andra AP fonden bought a new position in Boston Scientific in the second quarter worth approximately $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Boston Scientific in the third quarter valued at approximately $30,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Boston Scientific during the third quarter valued at approximately $30,000. 89.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

BSX has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. TD Cowen lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday. 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 research report on Friday, October 18th. Barclays raised 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, Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.43.

Insider Activity

In related news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the transaction, the executive vice president now owns 29,308 shares of the company’s stock, valued at $2,660,580.24. The trade was a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 328,157 shares of company stock worth $27,957,676 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Trading Down 0.3 %

Shares of Boston Scientific stock opened at $90.11 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The stock has a market capitalization of $132.81 billion, a P/E ratio of 74.47, a P/E/G ratio of 2.67 and a beta of 0.80. Boston Scientific Co. has a 52-week low of $54.95 and a 52-week high of $91.93. The stock’s 50-day simple moving average is $87.98 and its 200 day simple moving average is $81.87.

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

Boston Scientific Company 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.