AAFMAA Wealth Management & Trust LLC Trims Stock Position in Boston Scientific Co. (NYSE:BSX)

AAFMAA Wealth Management & Trust LLC trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 9.5% in the fourth quarter, HoldingsChannel reports. The firm owned 29,638 shares of the medical equipment provider’s stock after selling 3,094 shares during the period. Boston Scientific makes up about 1.2% of AAFMAA Wealth Management & Trust LLC’s portfolio, making the stock its 21st biggest holding. AAFMAA Wealth Management & Trust LLC’s holdings in Boston Scientific were worth $2,647,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares in the last quarter. HWG Holdings LP purchased a new stake in Boston Scientific in the 2nd quarter worth approximately $482,000. Principal Financial Group Inc. raised its holdings in Boston Scientific by 5.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock valued at $168,475,000 after acquiring an additional 111,724 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Boston Scientific by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock worth $289,675,000 after purchasing an additional 30,636 shares during the period. Finally, Intech Investment Management LLC boosted its holdings in shares of Boston Scientific by 153.5% during the third quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock worth $16,541,000 after purchasing an additional 119,525 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $94.78 on Tuesday. The business has a 50 day moving average price of $90.16 and a two-hundred day moving average price of $84.02. Boston Scientific Co. has a fifty-two week low of $59.61 and a fifty-two week high of $97.13. The firm has a market cap of $139.69 billion, a PE ratio of 78.33, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share. Sell-side analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the sale, the executive vice president now owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. This trade represents a 19.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 978 shares of the company’s stock, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,989 shares of company stock worth $2,702,261. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BSX has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their price target on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Stifel Nicolaus lifted their price target on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. Mizuho increased their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.26.

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.