Cambridge Trust Co. Buys 467 Shares of Boston Scientific Co. (NYSE:BSX)

Cambridge Trust Co. raised its stake in Boston Scientific Co. (NYSE:BSX) by 14.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,647 shares of the medical equipment provider’s stock after buying an additional 467 shares during the quarter. Cambridge Trust Co.’s holdings in Boston Scientific were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in Boston Scientific during the first quarter valued at approximately $54,000. Acadian Asset Management LLC bought a new stake in shares of Boston Scientific in the 1st quarter valued at $35,000. Prudential PLC acquired a new stake in Boston Scientific during the 1st quarter worth $1,076,000. Cetera Investment Advisers lifted its holdings in Boston Scientific by 24.0% during the first quarter. Cetera Investment Advisers now owns 28,793 shares of the medical equipment provider’s stock worth $1,275,000 after acquiring an additional 5,581 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in Boston Scientific in the first quarter valued at about $230,000. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the transaction, the chief financial officer now owns 271,542 shares in the company, valued at $17,883,756.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock worth $3,418,529 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX opened at $67.33 on Friday. The firm has a market capitalization of $98.78 billion, a PE ratio of 62.93, a PEG ratio of 2.38 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The company’s 50-day moving average is $67.25 and its 200-day moving average is $59.84. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $69.21.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. During the same period last year, the business posted $0.45 earnings per share. Equities analysts forecast that Boston Scientific Co. will post 2.25 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on BSX shares. Mizuho upgraded Boston Scientific from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $80.00 in a research report on Thursday, February 1st. Wells Fargo & Company boosted their price objective on shares of Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. TD Cowen increased their target price on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Raymond James upped their price objective on Boston Scientific from $67.00 to $73.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 1st. Finally, Royal Bank of Canada lifted their target price on Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.50.

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.