Central Pacific Bank Trust Division cut its stake in shares of Boston Scientific Co. (NYSE:BSX – Free Report) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,926 shares of the medical equipment provider’s stock after selling 957 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Boston Scientific were worth $2,405,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after buying an additional 173,034 shares in the last quarter. HWG Holdings LP bought a new stake in shares of Boston Scientific during the second quarter valued at approximately $482,000. Principal Financial Group Inc. raised its position in shares of Boston Scientific by 5.9% during the third quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock worth $168,475,000 after purchasing an additional 111,724 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Boston Scientific by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock worth $289,675,000 after purchasing an additional 30,636 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in Boston Scientific by 153.5% during the 3rd quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock valued at $16,541,000 after purchasing an additional 119,525 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Boston Scientific Price Performance
NYSE:BSX traded up $1.47 during trading hours on Friday, hitting $90.85. 1,424,089 shares of the company’s stock traded hands, compared to its average volume of 2,384,325. Boston Scientific Co. has a 52 week low of $57.58 and a 52 week high of $91.93. The business’s fifty day simple moving average is $88.86 and its two-hundred day simple moving average is $83.10. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm has a market cap of $133.90 billion, a P/E ratio of 75.08, a P/E/G ratio of 2.67 and a beta of 0.80.
Insider Activity
In other news, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This trade represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 321,174 shares of company stock worth $27,372,081. 0.50% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
BSX has been the subject of a number of analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Citigroup increased their price objective on Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Stifel Nicolaus lifted their target price on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company upped their target price on shares of Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Four 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.96.
View Our Latest Analysis on Boston Scientific
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.
See Also
- Five stocks we like better than Boston Scientific
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- Insiders Are Selling, But These 3 Stocks Are Must-Buys
- How to trade using analyst ratings
- Rivian Defies Doubters: Delivery Triumph Fuels Stock Surge
- What Is WallStreetBets and What Stocks Are They Targeting?
- Hindenburg Short Report Slams Carvana Over Alleged ‘Grift’
Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.