Lbp Am Sa Sells 121,169 Shares of Boston Scientific Corporation (NYSE:BSX)

LBP AM SA trimmed its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 40.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 182,071 shares of the medical equipment provider's stock after selling 121,169 shares during the period. LBP AM SA's holdings in Boston Scientific were worth $18,367,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BSX. Vanguard Group Inc. increased its stake in Boston Scientific by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock worth $11,869,805,000 after purchasing an additional 1,600,062 shares during the period. Wellington Management Group LLP increased its stake 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 worth $3,230,293,000 after purchasing an additional 3,344,571 shares during the period. Geode Capital Management LLC increased its stake in Boston Scientific by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock worth $2,729,371,000 after purchasing an additional 1,041,329 shares during the period. Capital World Investors increased its stake in Boston Scientific by 28.7% in the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after purchasing an additional 6,216,199 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Boston Scientific by 2.5% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock worth $1,992,994,000 after purchasing an additional 554,388 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boston Scientific

In related news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the completion of the sale, the chief executive officer owned 1,476,882 shares of the company's stock, valued at approximately $153,137,894.58. This trade represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president directly owned 36,193 shares of the company's stock, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 461,970 shares of company stock worth $47,755,193 in the last quarter. Company insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Citigroup reaffirmed a "buy" rating and issued a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Royal Bank Of Canada upped their price objective on Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Truist Financial upped their price target on Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Finally, Robert W. Baird increased their target price on Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Twenty-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $116.09.

Boston Scientific Price Performance

Shares of NYSE:BSX traded down $0.70 on Friday, hitting $103.16. The company had a trading volume of 5,890,147 shares, compared to its average volume of 6,701,002. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a 52-week low of $71.88 and a 52-week high of $107.53. The business has a 50 day moving average of $103.42 and a 200 day moving average of $100.53. The company has a market cap of $152.62 billion, a PE ratio of 75.30, a PEG ratio of 2.70 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The firm's revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 earnings per share. As a group, equities analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

About Boston Scientific

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.