Central Pacific Bank Trust Division Sells 957 Shares of Boston Scientific Co. (NYSE:BSX)

Central Pacific Bank Trust Division lessened its holdings in Boston Scientific Co. (NYSE:BSX) by 3.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 26,926 shares of the medical equipment provider’s stock after selling 957 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Boston Scientific were worth $2,405,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of 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 worth $345,205,000 after buying an additional 173,034 shares during the last quarter. HWG Holdings LP bought a new position in shares of Boston Scientific during the second quarter valued at $482,000. Principal Financial Group Inc. increased 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 worth $168,475,000 after buying an additional 111,724 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Boston Scientific by 0.9% in 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 buying an additional 30,636 shares during the last quarter. Finally, Intech Investment Management LLC raised its stake in Boston Scientific by 153.5% during the 3rd quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock valued at $16,541,000 after buying an additional 119,525 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX traded up $1.47 during midday trading on Friday, reaching $90.85. 1,424,089 shares of the stock traded hands, compared to its average volume of 2,384,325. The company’s 50 day moving average is $88.86 and its 200 day moving average is $83.10. Boston Scientific Co. has a one year low of $57.58 and a one year high of $91.93. The stock has a market capitalization of $133.90 billion, a PE ratio of 75.08, a P/E/G ratio of 2.67 and a beta of 0.80. 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 announced its 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. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the prior year, the company earned $0.50 EPS. The business’s revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Bank of America boosted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Morgan Stanley boosted their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group raised their target price on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $95.96.

Insider Activity

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total value of $633,916.74. Following the transaction, the executive vice president now directly owns 29,308 shares in the company, valued at approximately $2,660,580.24. This represents a 19.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 321,174 shares of company stock valued at $27,372,081. 0.50% of the stock is currently owned by insiders.

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.