Boston Scientific Co. (NYSE:BSX) Shares Acquired by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division boosted its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 13.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,501 shares of the medical equipment provider's stock after buying an additional 3,575 shares during the quarter. Central Pacific Bank Trust Division's holdings in Boston Scientific were worth $3,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of BSX. TFC Financial Management Inc. lifted its stake in Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 210 shares during the period. Colonial Trust Co SC lifted its stake in Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 260 shares during the period. Investment Management Corp VA ADV purchased a new stake in Boston Scientific in the fourth quarter worth about $25,000. Sunbeam Capital Management LLC purchased a new stake in Boston Scientific in the fourth quarter worth about $26,000. Finally, Ameriflex Group Inc. purchased a new stake in Boston Scientific in the fourth quarter worth about $31,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

BSX traded down $1.20 during trading on Monday, reaching $104.06. 3,040,262 shares of the company were exchanged, compared to its average volume of 7,632,529. The stock has a market cap of $153.95 billion, a P/E ratio of 83.27, a PEG ratio of 2.79 and a beta of 0.68. The firm has a 50 day moving average of $100.29 and a 200 day moving average of $98.02. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the prior year, the business earned $0.56 EPS. The firm's revenue was up 20.9% on a year-over-year basis. On average, sell-side analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BSX. Evercore ISI upped their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $115.00 price objective on shares of Boston Scientific in a research note on Wednesday, May 28th. Morgan Stanley increased their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Wells Fargo & Company increased their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Finally, Citigroup reissued a "buy" rating and set a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Twenty-one equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific has an average rating of "Buy" and an average target price of $116.00.

Insiders Place Their Bets

In other news, EVP John Bradley Sorenson sold 4,572 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the sale, the executive vice president now owns 18,705 shares in the company, valued at $1,955,420.70. This represents a 19.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Vance R. Brown sold 4,826 shares of the company's 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 completion of the sale, the senior vice president now owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This trade represents a 11.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,155 shares of company stock worth $19,556,047. 0.50% of the stock is owned by company insiders.

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.