Boston Scientific Co. (NYSE:BSX) Shares Sold by Eastern Bank

Eastern Bank cut its stake in Boston Scientific Co. (NYSE:BSXFree Report) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 304,881 shares of the medical equipment provider’s stock after selling 3,327 shares during the quarter. Eastern Bank’s holdings in Boston Scientific were worth $27,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Marshall Wace LLP grew its holdings in shares of Boston Scientific by 115.9% during the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after purchasing an additional 3,608,158 shares during the period. AustralianSuper Pty Ltd grew its holdings in shares of Boston Scientific by 4,292.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after purchasing an additional 2,615,903 shares during the period. Ameriprise Financial Inc. boosted its holdings in Boston Scientific by 30.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after acquiring an additional 1,824,405 shares during the period. State Street Corp boosted its holdings in Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Boston Scientific by 98.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock valued at $184,810,000 after acquiring an additional 1,091,561 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,989 shares of company stock worth $2,702,261 over the last three months. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Truist Financial lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group lifted their price objective on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, December 9th. BTIG Research lifted their price objective on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, TD Cowen lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.26.

Check Out Our Latest Stock Report on BSX

Boston Scientific Price Performance

Shares of NYSE BSX traded down $0.13 during trading on Monday, reaching $94.75. The company had a trading volume of 2,760,990 shares, compared to its average volume of 5,124,213. Boston Scientific Co. has a twelve month low of $59.61 and a twelve month high of $97.13. The stock has a market capitalization of $139.65 billion, a PE ratio of 78.31, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The stock has a 50-day moving average price of $89.96 and a two-hundred day moving average price of $83.89. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSXGet Free Report) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

About Boston Scientific

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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