Boston Scientific Co. (NYSE:BSX) Shares Sold by Argent Trust Co

Argent Trust Co reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,837 shares of the medical equipment provider’s stock after selling 663 shares during the period. Argent Trust Co’s holdings in Boston Scientific were worth $1,593,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Boston Scientific during the 4th quarter valued at about $1,762,522,000. Wellington Management Group LLP boosted its holdings in Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after purchasing an additional 3,344,571 shares during the last quarter. Axiom Investors LLC DE grew its stake in shares of Boston Scientific by 208.2% in the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock valued at $335,167,000 after buying an additional 2,535,007 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Boston Scientific during the 4th quarter worth approximately $190,780,000. Finally, Invesco Ltd. lifted its holdings in Boston Scientific by 13.6% in the fourth quarter. Invesco Ltd. now owns 15,790,666 shares of the medical equipment provider’s stock valued at $1,410,422,000 after acquiring an additional 1,893,012 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 17,313 shares of the company’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 sale, the executive vice president now owns 5,502 shares in the company, valued at $560,103.60. This represents a 75.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Daniel J. Brennan sold 15,087 shares of Boston Scientific stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total value of $1,585,191.09. Following the transaction, the chief financial officer now directly owns 241,451 shares of the company’s stock, valued at approximately $25,369,256.57. This represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,183 shares of company stock worth $13,948,476. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley lifted their target price on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. 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 price target on shares of Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. UBS Group increased their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $92.36 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $100.73 and a 200 day moving average price of $93.95. Boston Scientific Co. has a 52 week low of $66.80 and a 52 week high of $107.17. The company has a market cap of $136.60 billion, a P/E ratio of 73.88, a PEG ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates 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 predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.