Chevy Chase Trust Holdings LLC Has $66.18 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

Chevy Chase Trust Holdings LLC lessened its position in shares of Boston Scientific Co. (NYSE:BSX) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 789,772 shares of the medical equipment provider’s stock after selling 13,076 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Boston Scientific worth $66,183,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after buying an additional 173,034 shares during the period. BDF Gestion bought a new stake in Boston Scientific in the second quarter valued at about $3,570,000. Brookstone Capital Management raised its position in Boston Scientific by 389.1% in the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock worth $5,414,000 after purchasing an additional 55,645 shares in the last quarter. HWG Holdings LP bought a new position in Boston Scientific during the second quarter worth about $482,000. Finally, PGGM Investments grew its stake in shares of Boston Scientific by 9.6% in the 2nd quarter. PGGM Investments now owns 117,794 shares of the medical equipment provider’s stock valued at $9,071,000 after purchasing an additional 10,366 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insider Activity at Boston Scientific

In related news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 328,157 shares of company stock worth $27,894,270. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BSX. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. BTIG Research upped their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Truist Financial lifted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Raymond James upped their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Stock Down 0.1 %

Shares of NYSE:BSX opened at $90.66 on Monday. The company has a 50 day moving average of $86.70 and a 200-day moving average of $80.80. Boston Scientific Co. has a one year low of $53.93 and a one year high of $91.93. The stock has a market cap of $133.62 billion, a price-to-earnings ratio of 74.93, a P/E/G ratio of 2.67 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 11.26% and a return on equity of 17.23%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 EPS. On average, sell-side analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current year.

About Boston Scientific

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.