Palisade Asset Management LLC Acquires New Holdings in Boston Scientific Co. (NYSE:BSX)

Palisade Asset Management LLC acquired a new stake in Boston Scientific Co. (NYSE:BSX) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,528 shares of the medical equipment provider’s stock, valued at approximately $296,000.

Several other institutional investors also recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after buying an additional 173,034 shares in the last quarter. BDF Gestion acquired a new stake in Boston Scientific in the 2nd quarter valued at $3,570,000. LRI Investments LLC acquired a new stake in Boston Scientific in the 1st quarter valued at $139,000. Cetera Advisor Networks LLC boosted its stake in Boston Scientific by 11.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after buying an additional 21,252 shares in the last quarter. Finally, Brookstone Capital Management boosted its stake in Boston Scientific by 389.1% in the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after buying an additional 55,645 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Trading Down 1.6 %

NYSE:BSX opened at $90.00 on Friday. The stock has a market capitalization of $132.64 billion, a PE ratio of 74.38, a price-to-earnings-growth ratio of 2.69 and a beta of 0.79. The firm’s 50 day moving average is $85.99 and its 200 day moving average is $80.16. Boston Scientific Co. has a 12 month low of $53.93 and a 12 month high of $91.93. 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 (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 earnings per share. Sell-side analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. This trade represents a 45.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares in the company, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 314,147 shares of company stock worth $26,643,598 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the topic of several recent analyst reports. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Mizuho lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Truist Financial lifted their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Citigroup boosted their target price on Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $93.39.

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.