First American Trust FSB Sells 36,633 Shares of Boston Scientific Co. (NYSE:BSX)

First American Trust FSB decreased its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 25.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,477 shares of the medical equipment provider’s stock after selling 36,633 shares during the period. First American Trust FSB’s holdings in Boston Scientific were worth $9,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. increased its position in Boston Scientific by 21.3% in the third quarter. Advisors Asset Management Inc. now owns 24,060 shares of the medical equipment provider’s stock worth $2,016,000 after buying an additional 4,233 shares in the last quarter. Nwam LLC purchased a new stake in Boston Scientific in the 3rd quarter worth approximately $294,000. Great Valley Advisor Group Inc. raised its stake in Boston Scientific by 2.7% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 40,455 shares of the medical equipment provider’s stock worth $3,390,000 after acquiring an additional 1,074 shares during the period. Kingsview Wealth Management LLC lifted its holdings in Boston Scientific by 5.0% during the third quarter. Kingsview Wealth Management LLC now owns 5,970 shares of the medical equipment provider’s stock valued at $500,000 after purchasing an additional 282 shares in the last quarter. Finally, Swedbank AB boosted its position in shares of Boston Scientific by 0.6% in the third quarter. Swedbank AB now owns 1,430,925 shares of the medical equipment provider’s stock worth $119,912,000 after purchasing an additional 8,246 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

NYSE BSX opened at $102.74 on Tuesday. The business’s 50 day moving average price is $101.84 and its 200-day moving average price is $92.65. Boston Scientific Co. has a fifty-two week low of $66.80 and a fifty-two week high of $107.17. The company has a market cap of $151.96 billion, a P/E ratio of 82.19, a P/E/G ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share 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 17.80%. Sell-side analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were 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 $560,103.60. This trade represents a 75.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 1,201 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the completion of the sale, the executive vice president now directly owns 25,443 shares of the company’s stock, valued at approximately $2,704,845.33. This trade represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,302 shares of company stock valued at $14,319,269 over the last 90 days. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BSX shares. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. Canaccord Genuity Group boosted their price objective on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Argus set a $130.00 target price on Boston Scientific in a research report on Tuesday, February 18th. Stifel Nicolaus lifted their target price on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. upped their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Two 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 stock. Based on data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $108.91.

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.