Zurcher Kantonalbank Zurich Cantonalbank Has $17.01 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 47.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 294,248 shares of the medical equipment provider’s stock after selling 270,264 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Boston Scientific were worth $17,010,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new position in Boston Scientific during the fourth quarter valued at $28,000. Sunbelt Securities Inc. acquired a new position in Boston Scientific during the first quarter valued at $32,000. Motco raised its position in Boston Scientific by 136.3% during the third quarter. Motco now owns 645 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 372 shares during the period. Venturi Wealth Management LLC increased its position in Boston Scientific by 58.0% in the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 215 shares during the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new position in Boston Scientific in the 2nd quarter worth about $34,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the transaction, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock valued at $3,418,529 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Trading Down 0.8 %

Shares of BSX opened at $67.42 on Friday. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $69.21. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock has a 50 day simple moving average of $67.21 and a 200-day simple moving average of $59.74. The stock has a market cap of $98.91 billion, a PE ratio of 63.01, a PEG ratio of 2.39 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the firm posted $0.45 EPS. On average, sell-side analysts predict that Boston Scientific Co. will post 2.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on BSX shares. Raymond James upped their target price on Boston Scientific from $67.00 to $73.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 1st. BTIG Research reiterated a “buy” rating and set a $64.00 price target on shares of Boston Scientific in a research note on Friday, December 29th. Mizuho upgraded Boston Scientific from a “neutral” rating to a “buy” rating and upped their price target for the stock from $65.00 to $80.00 in a research note on Thursday, February 1st. Argus upped their price target on Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, Wells Fargo & Company upped their price target on Boston Scientific from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

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.