First Hawaiian Bank Sells 3,090 Shares of Boston Scientific Co. (NYSE:BSX)

First Hawaiian Bank lowered its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 6.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 42,757 shares of the medical equipment provider's stock after selling 3,090 shares during the period. First Hawaiian Bank's holdings in Boston Scientific were worth $4,313,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hobart Private Capital LLC acquired a new position in Boston Scientific in the 1st quarter valued at about $234,000. Neville Rodie & Shaw Inc. acquired a new position in Boston Scientific in the 1st quarter valued at about $2,341,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Boston Scientific by 17.5% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 6,325 shares of the medical equipment provider's stock valued at $638,000 after purchasing an additional 940 shares during the period. PKO Investment Management Joint Stock Co bought a new stake in Boston Scientific in the 4th quarter valued at about $893,000. Finally, Siemens Fonds Invest GmbH boosted its holdings in Boston Scientific by 2.4% in the 4th quarter. Siemens Fonds Invest GmbH now owns 48,958 shares of the medical equipment provider's stock valued at $4,391,000 after purchasing an additional 1,153 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Citigroup reissued 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. BTIG Research reissued a "buy" rating and issued a $124.00 price objective on shares of Boston Scientific in a report on Wednesday, April 23rd. Truist Financial boosted their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $115.00 price objective on shares of Boston Scientific in a report on Wednesday. Twenty-two equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $114.87.

Insider Transactions at Boston Scientific

In related news, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the transaction, the chief executive officer now directly owns 1,535,706 shares of the company's stock, valued at $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the transaction, the executive vice president now directly owns 18,705 shares in the company, valued at approximately $1,955,420.70. This represents a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,155 shares of company stock worth $19,556,047 over the last three months. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

NYSE:BSX traded up $0.58 on Friday, hitting $105.08. The company had a trading volume of 10,524,691 shares, compared to its average volume of 6,427,290. The stock has a market capitalization of $155.46 billion, a price-to-earnings ratio of 84.06, a PEG ratio of 2.79 and a beta of 0.68. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $100.29 and a two-hundred day moving average of $97.88. 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 posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. During the same period in the prior year, the company posted $0.56 earnings per share. Boston Scientific's revenue for the quarter was up 20.9% compared to the same quarter last year. On average, research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.