Cullen Frost Bankers Inc. Sells 5,633 Shares of Boston Scientific Corporation $BSX

Cullen Frost Bankers Inc. lowered its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 1.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 355,369 shares of the medical equipment provider’s stock after selling 5,633 shares during the period. Cullen Frost Bankers Inc.’s holdings in Boston Scientific were worth $34,695,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. FWL Investment Management LLC bought a new stake in Boston Scientific during the second quarter worth $26,000. Sound Income Strategies LLC lifted its stake in Boston Scientific by 90.9% during the 2nd quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 120 shares in the last quarter. Steph & Co. purchased a new position in Boston Scientific during the 3rd quarter worth $25,000. Financial Consulate Inc. bought a new stake in shares of Boston Scientific in the 3rd quarter worth $25,000. Finally, Kilter Group LLC bought a new stake in shares of Boston Scientific in the 2nd quarter worth $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on BSX. Leerink Partners boosted their price target on shares of Boston Scientific from $127.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Boston Scientific in a research report on Wednesday. Erste Group Bank lowered Boston Scientific from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Oppenheimer decreased their price target on Boston Scientific from $125.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 16th. Finally, Citigroup reiterated a “buy” rating on shares of Boston Scientific in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $123.89.

Boston Scientific Stock Up 1.4%

BSX stock opened at $92.56 on Friday. The stock has a fifty day moving average of $95.70 and a 200-day moving average of $99.85. Boston Scientific Corporation has a fifty-two week low of $85.98 and a fifty-two week high of $109.50. The company has a market capitalization of $137.22 billion, a price-to-earnings ratio of 49.50, a PEG ratio of 1.64 and a beta of 0.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.51.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.71 by $0.04. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.97 billion. Boston Scientific had a net margin of 14.43% and a return on equity of 19.46%. The company’s revenue was up 20.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. As a group, equities research analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Activity

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the sale, the executive vice president owned 23,600 shares of the company’s stock, valued at $2,396,580. The trade was a 42.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $99.47, for a total value of $4,973,500.00. Following the sale, the executive vice president owned 178,342 shares in the company, valued at approximately $17,739,678.74. This represents a 21.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 93,095 shares of company stock valued at $9,305,450 over the last quarter. Company insiders own 0.50% of the company’s stock.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.