Fulton Bank N.A. Sells 1,487 Shares of Boston Scientific Co. (NYSE:BSX)

Fulton Bank N.A. cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,142 shares of the medical equipment provider’s stock after selling 1,487 shares during the period. Fulton Bank N.A.’s holdings in Boston Scientific were worth $1,859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Lynx Investment Advisory bought a new stake in shares of Boston Scientific during the second quarter valued at about $30,000. Mather Group LLC. increased its position in shares of Boston Scientific by 20.1% in the second quarter. Mather Group LLC. now owns 7,654 shares of the medical equipment provider’s stock worth $589,000 after purchasing an additional 1,283 shares during the last quarter. ST Germain D J Co. Inc. increased its position in shares of Boston Scientific by 8.0% in the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock worth $148,000 after purchasing an additional 143 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Boston Scientific by 485.1% in the second quarter. Versant Capital Management Inc now owns 866 shares of the medical equipment provider’s stock worth $67,000 after purchasing an additional 718 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Boston Scientific in the second quarter worth approximately $220,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Trading Up 1.1 %

Shares of BSX traded up $0.80 during trading hours on Tuesday, reaching $73.76. 5,083,571 shares of the company traded hands, compared to its average volume of 6,332,000. The company’s fifty day moving average price is $76.37 and its two-hundred day moving average price is $71.07. The company has a market capitalization of $108.21 billion, a price-to-earnings ratio of 62.38, a price-to-earnings-growth ratio of 2.49 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. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $79.43.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. Equities research analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the transaction, the executive vice president now directly owns 20,197 shares in the company, valued at $1,521,641.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the sale, the executive vice president now directly owns 40,188 shares in the company, valued at approximately $2,978,734.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 14,011 shares of Boston Scientific stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the sale, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. Insiders have sold 47,891 shares of company stock valued at $3,597,688 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. BTIG Research upped their price objective on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. upped their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Truist Financial upped their target price on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $84.76.

About Boston Scientific

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.