TIAA Trust National Association Sells 41,621 Shares of Boston Scientific Co. (NYSE:BSX)

TIAA Trust National Association decreased its position in shares of Boston Scientific Co. (NYSE:BSX) by 14.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241,188 shares of the medical equipment provider’s stock after selling 41,621 shares during the quarter. TIAA Trust National Association’s holdings in Boston Scientific were worth $16,519,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after buying an additional 1,988,082 shares in the last quarter. Primecap Management Co. CA grew its position in shares of Boston Scientific by 1.5% during the 4th quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after buying an additional 550,490 shares in the last quarter. Norges Bank bought a new stake in Boston Scientific during the fourth quarter valued at about $930,626,000. Putnam Investments LLC boosted its position in Boston Scientific by 110.5% during the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after purchasing an additional 6,859,280 shares in the last quarter. Finally, Vontobel Asset Management Inc. boosted its position in Boston Scientific by 10.2% during the fourth quarter. Vontobel Asset Management Inc. now owns 10,974,569 shares of the medical equipment provider’s stock valued at $668,472,000 after purchasing an additional 1,015,140 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded up $2.01 during trading on Friday, hitting $77.56. The stock had a trading volume of 7,913,032 shares, compared to its average volume of 5,081,708. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $78.98. The stock has a market capitalization of $113.79 billion, a price-to-earnings ratio of 65.18, a price-to-earnings-growth ratio of 2.67 and a beta of 0.78. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The stock has a 50-day simple moving average of $76.21 and a two-hundred day simple moving average of $69.75.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. On average, equities research analysts expect that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total transaction of $539,785.90. Following the sale, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at $3,316,788.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total transaction of $539,785.90. Following the sale, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at $3,316,788.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,620,617. The disclosure for this sale can be found here. Insiders have sold a total of 72,259 shares of company stock valued at $5,344,014 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Morgan Stanley raised their price objective on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. TD Cowen raised their price objective on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Finally, JPMorgan Chase & Co. raised their price objective on Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $82.29.

Boston Scientific Company 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.