Alerus Financial NA Has $8.18 Million Stake in Boston Scientific Co. (NYSE:BSX)

Alerus Financial NA lessened its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 3.8% during the third quarter, HoldingsChannel.com reports. The firm owned 97,607 shares of the medical equipment provider’s stock after selling 3,898 shares during the quarter. Alerus Financial NA’s holdings in Boston Scientific were worth $8,179,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares in the last quarter. BDF Gestion bought a new position in shares of Boston Scientific in the second quarter worth $3,570,000. Brookstone Capital Management raised its stake in Boston Scientific by 389.1% in the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after purchasing an additional 55,645 shares in the last quarter. HWG Holdings LP bought a new stake in Boston Scientific during the second quarter worth about $482,000. Finally, PGGM Investments grew its stake in Boston Scientific by 9.6% during the second quarter. PGGM Investments now owns 117,794 shares of the medical equipment provider’s stock worth $9,071,000 after buying an additional 10,366 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares in the company, valued at $2,913,967.28. The trade was a 16.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 328,157 shares of company stock valued at $27,894,270 in the last ninety days. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Raymond James upped their target price on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. Mizuho lifted their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group boosted their price target on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Stock Performance

Shares of BSX stock opened at $90.66 on Friday. The stock has a market capitalization of $133.62 billion, a PE ratio of 74.93, a PEG ratio of 2.67 and a beta of 0.79. The business’s 50 day simple moving average is $86.70 and its 200 day simple moving average is $80.76. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a one year low of $53.93 and a one year high of $91.93.

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