Associated Banc Corp Sells 1,539 Shares of Boston Scientific Co. (NYSE:BSX)

Associated Banc Corp lowered its stake in Boston Scientific Co. (NYSE:BSX) by 0.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 422,714 shares of the medical equipment provider’s stock after selling 1,539 shares during the quarter. Boston Scientific makes up approximately 1.0% of Associated Banc Corp’s portfolio, making the stock its 25th largest holding. Associated Banc Corp’s holdings in Boston Scientific were worth $35,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the stock. Triad Wealth Partners LLC bought a new position in Boston Scientific in the 2nd quarter worth $26,000. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific during the 3rd quarter valued at about $28,000. Andra AP fonden bought a new position in Boston Scientific during the second quarter worth about $29,000. Lynx Investment Advisory acquired a new position in shares of Boston Scientific in the 2nd quarter worth approximately $30,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Boston Scientific in the 3rd quarter worth about $30,000. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction that occurred 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 transaction, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. The trade was a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 314,147 shares of company stock valued at $26,643,598. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded down $1.23 during midday trading on Monday, reaching $88.77. The company had a trading volume of 296,779 shares, compared to its average volume of 6,052,631. Boston Scientific Co. has a 52-week low of $53.93 and a 52-week high of $91.93. The company’s 50 day moving average price is $85.99 and its 200 day moving average price is $80.22. The stock has a market cap of $130.83 billion, a P/E ratio of 74.38, a P/E/G ratio of 2.65 and a beta of 0.79. 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 for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the previous year, the firm earned $0.50 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays raised their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Morgan Stanley raised their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. TD Cowen increased their target price on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Stifel Nicolaus upped their price target on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.