Boston Scientific Corporation (NYSE:BSX) Stake Cut by First American Bank

First American Bank cut its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 2.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,838 shares of the medical equipment provider's stock after selling 3,295 shares during the period. First American Bank's holdings in Boston Scientific were worth $12,795,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BSX. Bank Pictet & Cie Europe AG lifted its holdings in shares of Boston Scientific by 40.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock worth $6,529,000 after purchasing an additional 21,173 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Boston Scientific by 13.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 184,802 shares of the medical equipment provider's stock valued at $16,507,000 after acquiring an additional 22,504 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Boston Scientific in the fourth quarter valued at $33,074,000. Blue Trust Inc. lifted its holdings in Boston Scientific by 13.0% in the first quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider's stock valued at $504,000 after acquiring an additional 575 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Boston Scientific by 109.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider's stock valued at $24,126,000 after acquiring an additional 141,398 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Down 0.0%

Shares of BSX traded down $0.02 during trading on Friday, reaching $101.35. The company's stock had a trading volume of 11,349,521 shares, compared to its average volume of 6,583,316. The company has a fifty day moving average of $101.77 and a two-hundred day moving average of $99.17. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $107.17. The company has a market cap of $149.95 billion, a price-to-earnings ratio of 73.98, a P/E/G ratio of 2.62 and a beta of 0.68. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Needham & Company LLC restated a "buy" rating and issued a $115.00 price target on shares of Boston Scientific in a research report on Wednesday, May 28th. Royal Bank Of Canada raised their price target on Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Barclays raised their price target on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Finally, Truist Financial lifted their price objective on Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Twenty-two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $116.09.

Insider Buying and Selling

In other news, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now owns 1,535,706 shares of the company's stock, valued at approximately $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 4,572 shares of the company's stock in a transaction on Monday, May 5th. The shares were 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 of the company's stock, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 411,970 shares of company stock worth $42,406,693 in the last three months. 0.50% of the stock is owned by 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.