Central Bank & Trust Co. Purchases New Shares in Boston Scientific Co. (NYSE:BSX)

Central Bank & Trust Co. acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,242 shares of the medical equipment provider’s stock, valued at approximately $831,000.

Other hedge funds have also recently bought and sold shares of the company. Parnassus Investments LLC increased its position in shares of Boston Scientific by 0.7% during the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after purchasing an additional 97 shares during the last quarter. Baldwin Investment Management LLC grew its position in Boston Scientific by 1.2% during the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock valued at $781,000 after buying an additional 102 shares during the period. Evergreen Capital Management LLC increased its holdings in Boston Scientific by 1.7% during the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after buying an additional 106 shares during the last quarter. PDS Planning Inc raised its position in Boston Scientific by 1.5% in the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after acquiring an additional 113 shares during the period. Finally, Paladin Wealth LLC boosted its stake in Boston Scientific by 1.6% in the first quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider’s stock valued at $722,000 after acquiring an additional 113 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the transaction, the chief executive officer now owns 1,535,706 shares in the company, valued at $157,379,150.88. This represents a 9.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the sale, the senior vice president now owns 36,193 shares of the company’s stock, valued at $3,441,592.37. This trade represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 411,970 shares of company stock valued at $42,406,693 over the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Price Performance

Shares of BSX stock opened at $102.04 on Friday. The business’s fifty day moving average is $100.49 and its 200 day moving average is $98.43. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The stock has a market cap of $150.96 billion, a price-to-earnings ratio of 81.63, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a twelve month low of $71.88 and a twelve month high of $107.17.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business’s revenue was up 20.9% on a year-over-year basis. During the same period last year, the business earned $0.56 earnings per share. Research analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of research reports. Barclays lifted their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Evercore ISI boosted their target price on Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Royal Bank of Canada increased their price target on Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Needham & Company LLC restated a “buy” rating and issued a $115.00 price objective on shares of Boston Scientific in a research note on Wednesday, May 28th. Finally, Erste Group Bank raised shares of Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Twenty-one equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $116.00.

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.