Huntington National Bank Boosts Position in Boston Scientific Corporation (NYSE:BSX)

Huntington National Bank boosted its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 3,421.5% during the second quarter, Holdings Channel reports. The firm owned 41,800 shares of the medical equipment provider’s stock after buying an additional 40,613 shares during the period. Huntington National Bank’s holdings in Boston Scientific Corporation were worth $1,158,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealthfront Inc. boosted its stake in Boston Scientific Corporation by 6.8% in the fourth quarter. Wealthfront Inc. now owns 23,728 shares of the medical equipment provider’s stock valued at $513,000 after buying an additional 1,513 shares in the last quarter. Kentucky Retirement Systems bought a new stake in Boston Scientific Corporation during the fourth quarter valued at approximately $2,137,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Boston Scientific Corporation during the fourth quarter valued at approximately $954,000. Chevy Chase Trust Holdings Inc. boosted its stake in Boston Scientific Corporation by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,176,687 shares of the medical equipment provider’s stock valued at $29,264,000 after buying an additional 37,547 shares in the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in Boston Scientific Corporation by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 415,615 shares of the medical equipment provider’s stock valued at $10,336,000 after buying an additional 5,400 shares in the last quarter. Institutional investors and hedge funds own 92.11% of the company’s stock.

Shares of Boston Scientific Corporation (BSX) traded up 0.04% during mid-day trading on Wednesday, reaching $27.59. The company’s stock had a trading volume of 253,216 shares. The firm has a 50-day moving average of $27.76 and a 200-day moving average of $25.75. The firm has a market capitalization of $37.78 billion, a PE ratio of 88.43 and a beta of 1.10. Boston Scientific Corporation has a 52 week low of $19.67 and a 52 week high of $28.51.

Boston Scientific Corporation (NYSE:BSX) last issued its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by $0.01. Boston Scientific Corporation had a return on equity of 23.45% and a net margin of 5.07%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the business posted $0.28 EPS. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts forecast that Boston Scientific Corporation will post $1.25 earnings per share for the current fiscal year.

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BSX has been the subject of several recent analyst reports. BidaskClub cut Boston Scientific Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday. Cowen and Company reissued an “outperform” rating and set a $31.00 target price on shares of Boston Scientific Corporation in a research note on Monday, July 17th. Royal Bank Of Canada reissued a “buy” rating and set a $31.00 target price on shares of Boston Scientific Corporation in a research note on Wednesday, July 12th. Zacks Investment Research cut Boston Scientific Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $31.00 target price (up previously from $27.00) on shares of Boston Scientific Corporation in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $29.61.

In related news, EVP Kevin J. Ballinger sold 28,864 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $26.14, for a total transaction of $754,504.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Daniel J. Brennan sold 92,158 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $27.48, for a total transaction of $2,532,501.84. Following the transaction, the chief financial officer now owns 235,421 shares in the company, valued at approximately $6,469,369.08. The disclosure for this sale can be found here. Insiders sold 198,556 shares of company stock worth $5,419,452 in the last three months. 0.74% of the stock is currently owned by corporate insiders.

Boston Scientific Corporation Company Profile

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.

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

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