Commerzbank Aktiengesellschaft FI Reduces Holdings in Boston Scientific Corporation $BSX

Commerzbank Aktiengesellschaft FI decreased its position in shares of Boston Scientific Corporation (NYSE:BSX) by 74.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,438 shares of the medical equipment provider’s stock after selling 48,062 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Boston Scientific were worth $1,031,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AlTi Global Inc. boosted its stake in shares of Boston Scientific by 26.1% during the 1st quarter. AlTi Global Inc. now owns 32,465 shares of the medical equipment provider’s stock worth $2,037,000 after purchasing an additional 6,729 shares during the period. Earned Wealth Advisors LLC raised its position in Boston Scientific by 90.2% in the 1st quarter. Earned Wealth Advisors LLC now owns 5,351 shares of the medical equipment provider’s stock worth $336,000 after purchasing an additional 2,538 shares during the period. Meeder Asset Management Inc. raised its position in Boston Scientific by 149.5% in the 1st quarter. Meeder Asset Management Inc. now owns 766 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 459 shares during the period. Meeder Advisory Services Inc. lifted its stake in Boston Scientific by 1.5% in the first quarter. Meeder Advisory Services Inc. now owns 37,648 shares of the medical equipment provider’s stock worth $2,362,000 after purchasing an additional 543 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Boston Scientific by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 6,097,777 shares of the medical equipment provider’s stock worth $382,668,000 after purchasing an additional 362,547 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX stock opened at $43.14 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22. The company has a market capitalization of $64.12 billion, a P/E ratio of 18.05, a P/E/G ratio of 0.84 and a beta of 0.58. The company’s 50-day simple moving average is $47.77 and its two-hundred day simple moving average is $64.93. Boston Scientific Corporation has a one year low of $42.20 and a one year high of $109.50.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company posted $0.75 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts anticipate that Boston Scientific Corporation will post 3.35 EPS for the current year.

Boston Scientific announced that its board has authorized a stock repurchase plan on Monday, May 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical equipment provider to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Needham & Company LLC cut their target price on Boston Scientific from $77.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. The Goldman Sachs Group set a $71.00 price target on Boston Scientific in a research note on Thursday, May 28th. Truist Financial dropped their price objective on Boston Scientific from $64.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Zacks Research downgraded Boston Scientific from a “hold” rating to a “strong sell” rating in a research report on Friday, June 5th. Finally, Citigroup reduced their target price on Boston Scientific from $87.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.84.

Insider Buying and Selling

In other news, Director Cheryl Pegus bought 1,770 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $56.49 per share, with a total value of $99,987.30. Following the transaction, the director directly owned 1,770 shares in the company, valued at approximately $99,987.30. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig bought 3,580 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $56.68 per share, with a total value of $202,914.40. Following the completion of the acquisition, the director directly owned 25,359 shares in the company, valued at approximately $1,437,348.12. This trade represents a 16.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 9,800 shares of company stock valued at $554,012 over the last quarter. 0.34% of the stock is owned by corporate insiders.

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.