Zions Bancorporation N.A. Grows Stake in Boston Scientific Co. (NYSE:BSX)

Zions Bancorporation N.A. grew its stake in shares of Boston Scientific Co. (NYSE:BSX) by 9.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,590 shares of the medical equipment provider’s stock after acquiring an additional 310 shares during the period. Zions Bancorporation N.A.’s holdings in Boston Scientific were worth $321,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BSX. FineMark National Bank & Trust bought a new stake in shares of Boston Scientific in the fourth quarter valued at $206,000. Ashton Thomas Securities LLC raised its stake in Boston Scientific by 3.5% in the 4th quarter. Ashton Thomas Securities LLC now owns 10,316 shares of the medical equipment provider’s stock valued at $921,000 after acquiring an additional 348 shares during the period. TD Asset Management Inc. raised its stake in Boston Scientific by 2.1% in the 4th quarter. TD Asset Management Inc. now owns 2,289,791 shares of the medical equipment provider’s stock valued at $204,524,000 after acquiring an additional 46,255 shares during the period. EFG Asset Management North America Corp. lifted its holdings in Boston Scientific by 9.2% during the fourth quarter. EFG Asset Management North America Corp. now owns 29,930 shares of the medical equipment provider’s stock valued at $2,674,000 after purchasing an additional 2,527 shares during the last quarter. Finally, Modern Wealth Management LLC purchased a new position in shares of Boston Scientific in the fourth quarter worth about $269,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Down 0.7 %

BSX stock opened at $102.31 on Thursday. The company has a market capitalization of $151.32 billion, a PE ratio of 81.85, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The company’s 50 day moving average price is $102.10 and its two-hundred day moving average price is $92.87.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other news, CFO Daniel J. Brennan sold 15,087 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the sale, the chief financial officer now directly owns 241,451 shares in the company, valued at approximately $25,369,256.57. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares in the company, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock worth $14,319,269 in the last ninety days. 0.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BSX. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Piper Sandler raised their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. TD Cowen boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Stifel Nicolaus raised their target price on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Canaccord Genuity Group upped their price target on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

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.