First American Trust FSB Cuts Stake in Boston Scientific Co. (NYSE:BSX)

First American Trust FSB cut its holdings in Boston Scientific Co. (NYSE:BSX) by 25.4% in the fourth quarter, Holdings Channel reports. The fund owned 107,477 shares of the medical equipment provider’s stock after selling 36,633 shares during the quarter. First American Trust FSB’s holdings in Boston Scientific were worth $9,600,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BSX. Raymond James Financial Inc. bought a new position in shares of Boston Scientific during the fourth quarter valued at approximately $190,780,000. Vanguard Group Inc. lifted its holdings in Boston Scientific by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock worth $11,869,805,000 after buying an additional 1,600,062 shares during the period. State Street Corp boosted its position in Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Fisher Funds Management LTD purchased a new position in shares of Boston Scientific in the 4th quarter valued at $94,710,000. Finally, Fisher Asset Management LLC raised its position in shares of Boston Scientific by 21.6% in the 4th quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider’s stock worth $518,138,000 after acquiring an additional 1,028,977 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Up 2.0 %

NYSE BSX opened at $102.74 on Tuesday. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The company has a market capitalization of $151.96 billion, a PE ratio of 82.19, a P/E/G ratio of 2.79 and a beta of 0.77. The company has a fifty day moving average of $101.84 and a 200 day moving average of $92.65.

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

Analysts Set New Price Targets

Several research firms have issued reports on BSX. Stifel Nicolaus lifted their target price on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Truist Financial lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Citigroup increased their target price on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Wells Fargo & Company raised their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $108.91.

Insider Activity

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the sale, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the transaction, the executive vice president now directly owns 25,443 shares of the company’s stock, valued at approximately $2,704,845.33. The trade was a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,302 shares of company stock valued at $14,319,269 in the last three months. 0.50% of the stock is currently owned by corporate insiders.

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.