Private Trust Co. NA Trims Holdings in Boston Scientific Co. (NYSE:BSX)

Private Trust Co. NA lowered its stake in shares of Boston Scientific Co. (NYSE:BSX) by 57.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,620 shares of the medical equipment provider’s stock after selling 3,526 shares during the period. Private Trust Co. NA’s holdings in Boston Scientific were worth $234,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BSX. Adero Partners LLC grew its holdings in shares of Boston Scientific by 3.3% in the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock valued at $334,000 after purchasing an additional 120 shares in the last quarter. Grove Bank & Trust grew its stake in shares of Boston Scientific by 4.4% in the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after acquiring an additional 122 shares in the last quarter. PFG Investments LLC increased its position in shares of Boston Scientific by 1.6% during the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock worth $725,000 after acquiring an additional 125 shares during the period. Stonegate Investment Group LLC increased its position in shares of Boston Scientific by 1.6% during the fourth quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock worth $699,000 after acquiring an additional 126 shares during the period. Finally, Ashton Thomas Securities LLC raised its stake in shares of Boston Scientific by 1.3% in the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after acquiring an additional 129 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Daniel J. Brennan sold 67,333 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the sale, the chief financial officer now owns 225,808 shares of the company’s stock, valued at $23,764,033.92. The trade was a 22.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the transaction, the executive vice president now directly owns 25,443 shares of the company’s stock, valued at $2,704,845.33. The trade was a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,322 shares of company stock valued at $14,321,068. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

NYSE BSX opened at $104.82 on Tuesday. The stock has a market capitalization of $154.69 billion, a price-to-earnings ratio of 83.86, a PEG ratio of 2.79 and a beta of 0.80. The business’s 50 day moving average is $99.57 and its two-hundred day moving average is $90.61. Boston Scientific Co. has a 12-month low of $65.52 and a 12-month high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Research analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on BSX. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a report on Friday, January 10th. Raymond James boosted their price objective on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. Canaccord Genuity Group raised their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. Citigroup boosted their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, TD Cowen raised their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $108.91.

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.