Boston Scientific Co. (NYSE:BSX) Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 13.5% in the fourth quarter, Holdings Channel reports. The firm owned 3,141 shares of the medical equipment provider’s stock after selling 492 shares during the period. Parkside Financial Bank & Trust’s holdings in Boston Scientific were worth $281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BSX. State Street Corp grew 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. Wellington Management Group LLP grew 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. Geode Capital Management LLC grew its position in Boston Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after acquiring an additional 480,729 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Boston Scientific by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock valued at $671,940,000 after acquiring an additional 64,720 shares in the last quarter. Finally, Impax Asset Management Group plc grew 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. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on BSX. Wells Fargo & Company lifted their target price on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Canaccord Genuity Group lifted their target price on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research report on Thursday, February 6th. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, Argus set a $130.00 price objective on Boston Scientific in a research note on Tuesday, February 18th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $108.91.

Boston Scientific Price Performance

BSX stock opened at $104.02 on Friday. The business has a 50 day moving average price of $99.28 and a 200 day moving average price of $90.32. The stock has a market cap of $153.51 billion, a price-to-earnings ratio of 83.21, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a fifty-two week low of $65.52 and a fifty-two week high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share 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%. Equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the sale, the executive vice president now owns 25,443 shares of the company’s stock, valued at $2,704,845.33. This trade represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 144,305 shares of company stock worth $14,954,985. 0.50% of the stock is owned by insiders.

Boston Scientific Company 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.