Truist Financial Corp Has $19.28 Million Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Truist Financial Corp cut its position in Boston Scientific Co. (NYSE:BSX) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,894 shares of the medical equipment provider’s stock after selling 4,801 shares during the period. Truist Financial Corp’s holdings in Boston Scientific were worth $19,284,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BSX. AustralianSuper Pty Ltd lifted its position in Boston Scientific by 4,292.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after acquiring an additional 2,615,903 shares in the last quarter. State Street Corp lifted its position in Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Boston Scientific by 32.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,897,117 shares of the medical equipment provider’s stock valued at $326,578,000 after acquiring an additional 951,580 shares in the last quarter. Impax Asset Management Group plc lifted its position in Boston Scientific by 17.5% in the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after acquiring an additional 815,403 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Boston Scientific by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after acquiring an additional 718,515 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Activity

In related news, EVP John Bradley Sorenson sold 2,657 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $104.41, for a total value of $277,417.37. Following the completion of the transaction, the executive vice president now directly owns 24,294 shares in the company, valued at approximately $2,536,536.54. The trade was a 9.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel J. Brennan sold 67,333 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 225,808 shares of the company’s stock, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 153,640 shares of company stock worth $15,718,289 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BSX shares. Piper Sandler raised their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research report on Friday, January 10th. Barclays lifted their target price on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Citigroup lifted their target price on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Stifel Nicolaus lifted their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $107.39.

Boston Scientific Stock Up 0.3 %

Boston Scientific stock opened at $105.63 on Thursday. The firm has a 50 day simple moving average of $97.39 and a 200 day simple moving average of $88.94. The firm has a market capitalization of $155.68 billion, a price-to-earnings ratio of 84.50, a P/E/G ratio of 2.81 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 1-year low of $65.33 and a 1-year high of $107.17.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. On average, analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.