Amalgamated Bank Lowers Stake in Boston Scientific Co. (NYSE:BSX)

Amalgamated Bank decreased its holdings in Boston Scientific Co. (NYSE:BSX) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 289,534 shares of the medical equipment provider’s stock after selling 6,770 shares during the period. Amalgamated Bank’s holdings in Boston Scientific were worth $25,861,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BSX. TFC Financial Management Inc. increased its stake in Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 210 shares during the last quarter. Dunhill Financial LLC grew its stake in shares of Boston Scientific by 86.4% in 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 in the last quarter. Global Wealth Strategies & Associates increased its holdings in shares of Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares during the last quarter. West Oak Capital LLC purchased a new stake in shares of Boston Scientific during the 4th quarter valued at about $29,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Boston Scientific in the 3rd quarter valued at about $30,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Stifel Nicolaus boosted their target price on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Thursday, February 6th. TD Cowen raised their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.39.

Insider Activity

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $90.78, for a total value of $633,916.74. Following the transaction, the executive vice president now directly owns 29,308 shares in the company, valued at $2,660,580.24. The trade was a 19.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the sale, the executive vice president now directly owns 25,443 shares in the company, valued at approximately $2,704,845.33. The trade was a 4.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 139,630 shares of company stock valued at $14,467,616. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Down 0.2 %

Shares of NYSE BSX opened at $104.30 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company’s 50-day simple moving average is $98.25 and its 200-day simple moving average is $89.69. The firm has a market cap of $153.92 billion, a price-to-earnings ratio of 83.44, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a 52-week low of $65.52 and a 52-week high of $107.17.

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

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.