Private Trust Co. NA Cuts Stake in Boston Scientific Co. (NYSE:BSX)

Private Trust Co. NA cut its holdings in Boston Scientific Co. (NYSE:BSX) by 57.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,620 shares of the medical equipment provider’s stock after selling 3,526 shares during the quarter. Private Trust Co. NA’s holdings in Boston Scientific were worth $234,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BSX. State Street Corp increased its holdings in shares of Boston Scientific by 2.3% in 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 during the period. Wellington Management Group LLP lifted its holdings in shares of Boston Scientific by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after purchasing an additional 718,515 shares during the last quarter. Geode Capital Management LLC raised its stake in Boston Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after buying an additional 480,729 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Boston Scientific by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after purchasing an additional 64,720 shares in the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of Boston Scientific by 17.5% in the third quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after buying an additional 815,403 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $104.82 on Tuesday. The stock has a market capitalization of $154.69 billion, a P/E ratio of 83.86, a PEG ratio of 2.79 and a beta of 0.80. The business has a 50 day simple moving average of $99.57 and a two-hundred day simple moving average of $90.61. Boston Scientific Co. has a 12 month low of $65.52 and a 12 month 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.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 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%. As a group, analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research report on Friday, January 10th. Argus set a $130.00 price objective on shares of Boston Scientific in a report on Tuesday, February 18th. Citigroup boosted 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. Truist Financial lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Monday. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $108.91.

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the transaction, the executive vice president now owns 25,443 shares in the company, valued at approximately $2,704,845.33. This trade represents a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at $560,103.60. This represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,322 shares of company stock valued at $14,321,068. Corporate insiders own 0.50% of the company’s stock.

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.