Boston Scientific Corporation (NYSE:BSX) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale cut its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 8.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,696,861 shares of the medical equipment provider's stock after selling 147,932 shares during the period. DekaBank Deutsche Girozentrale owned 0.11% of Boston Scientific worth $164,973,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Colonial Trust Co SC raised its position in Boston Scientific by 1,625.0% during 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 position in Boston Scientific in the 4th quarter valued at about $25,000. Sunbeam Capital Management LLC acquired a new stake in Boston Scientific in the 4th quarter worth about $26,000. Ameriflex Group Inc. purchased a new position in shares of Boston Scientific in the fourth quarter valued at approximately $31,000. Finally, Fairway Wealth LLC acquired a new stake in shares of Boston Scientific in the fourth quarter worth approximately $36,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Down 1.3%

Boston Scientific stock traded down $1.39 during trading on Tuesday, reaching $102.44. The stock had a trading volume of 7,750,791 shares, compared to its average volume of 6,667,485. 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 price of $103.45 and a 200 day moving average price of $100.32. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The stock has a market cap of $151.55 billion, a PE ratio of 74.77, a P/E/G ratio of 2.71 and a beta of 0.68.

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

Insider Buying and Selling

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,314 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the sale, the executive vice president owned 22,235 shares of the company's stock, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. The trade was a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 461,970 shares of company stock valued at $47,755,193 over the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BSX shares. Citigroup restated a "buy" rating and issued a $125.00 price objective (up previously from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Truist Financial raised their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Needham & Company LLC restated a "buy" rating and set a $115.00 price objective on shares of Boston Scientific in a research report on Wednesday, May 28th. Robert W. Baird raised their price objective on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley raised their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Twenty-two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $116.09.

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.