Blue Trust Inc. Raises Holdings in Boston Scientific Corporation (NYSE:BSX)

Blue Trust Inc. grew its position in Boston Scientific Corporation (NYSE:BSX) by 13.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,000 shares of the medical equipment provider’s stock after buying an additional 575 shares during the quarter. Blue Trust Inc.’s holdings in Boston Scientific were worth $504,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BSX. Colonial Trust Co SC lifted its holdings in shares of Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 260 shares during the period. Investment Management Corp VA ADV purchased a new stake in shares of Boston Scientific in the 4th quarter worth $25,000. Sunbeam Capital Management LLC purchased a new stake in shares of Boston Scientific in the 4th quarter worth $26,000. Ameriflex Group Inc. purchased a new stake in shares of Boston Scientific in the 4th quarter worth $31,000. Finally, Fairway Wealth LLC purchased a new stake in shares of Boston Scientific in the 4th quarter worth $36,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total value of $5,799,551.36. Following the sale, the executive vice president now owns 178,342 shares in the company, valued at $18,347,824.96. This represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 411,970 shares of company stock worth $42,406,693 over the last quarter. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Down 0.0%

Boston Scientific stock opened at $101.35 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The business’s 50-day simple moving average is $101.77 and its two-hundred day simple moving average is $99.11. The company has a market cap of $149.94 billion, a PE ratio of 73.98, a PEG ratio of 2.62 and a beta of 0.68. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $107.17.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 EPS. Equities analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. BTIG Research reissued a “buy” rating and issued a $124.00 price target on shares of Boston Scientific in a research report on Wednesday, April 23rd. Evercore ISI boosted their price target on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Citigroup reissued a “buy” rating and issued a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Truist Financial boosted their price target on Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Finally, Barclays boosted their price target on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Twenty-two analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $116.09.

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.