Parkside Financial Bank & Trust Decreases Holdings in Boston Scientific Co. (NYSE:BSX)

Parkside Financial Bank & Trust cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 6.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,253 shares of the medical equipment provider’s stock after selling 229 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Boston Scientific were worth $188,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in BSX. AE Wealth Management LLC increased its holdings in Boston Scientific by 9.9% in the 3rd quarter. AE Wealth Management LLC now owns 34,374 shares of the medical equipment provider’s stock worth $1,815,000 after acquiring an additional 3,091 shares during the last quarter. IFP Advisors Inc increased its holdings in Boston Scientific by 29.1% in the 3rd quarter. IFP Advisors Inc now owns 5,026 shares of the medical equipment provider’s stock worth $265,000 after acquiring an additional 1,132 shares during the last quarter. Park Place Capital Corp purchased a new stake in Boston Scientific in the 3rd quarter worth about $56,000. Private Trust Co. NA increased its holdings in Boston Scientific by 498.8% in the 3rd quarter. Private Trust Co. NA now owns 5,132 shares of the medical equipment provider’s stock worth $271,000 after acquiring an additional 4,275 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in Boston Scientific by 9.7% in the 3rd quarter. Proficio Capital Partners LLC now owns 4,062 shares of the medical equipment provider’s stock worth $214,000 after purchasing an additional 358 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Royal Bank of Canada raised their target price on Boston Scientific from $70.00 to $78.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. BTIG Research restated a “buy” rating and issued a $64.00 target price on shares of Boston Scientific in a research note on Friday, December 29th. Mizuho upgraded Boston Scientific from a “neutral” rating to a “buy” rating and lifted their price target for the company from $65.00 to $80.00 in a research report on Thursday, February 1st. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. Finally, Raymond James lifted their price target on Boston Scientific from $67.00 to $73.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $69.95.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now directly owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock worth $3,418,529 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Performance

Shares of BSX stock opened at $72.91 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $74.39. The stock has a 50 day moving average price of $67.53 and a two-hundred day moving average price of $60.28. The company has a market capitalization of $106.97 billion, a P/E ratio of 68.14, a PEG ratio of 2.42 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter in the previous year, the company posted $0.45 earnings per share. Analysts expect that Boston Scientific Co. will post 2.25 earnings per share for the current year.

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.