Grimes & Company Inc. Sells 4,381 Shares of Boston Scientific Corporation (NYSE:BSX)

Grimes & Company Inc. decreased its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 33.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,562 shares of the medical equipment provider's stock after selling 4,381 shares during the period. Grimes & Company Inc.'s holdings in Boston Scientific were worth $864,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BSX. Vanguard Group Inc. boosted its stake in shares of 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 valued at $11,869,805,000 after purchasing an additional 1,600,062 shares in the last quarter. Wellington Management Group LLP lifted its stake in Boston Scientific by 10.2% in the fourth 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 last quarter. Geode Capital Management LLC boosted its position in Boston Scientific by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock valued at $2,729,371,000 after buying an additional 1,041,329 shares during the period. Capital World Investors grew its stake in shares of Boston Scientific by 28.7% during the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after buying an additional 6,216,199 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Boston Scientific by 2.5% in the fourth 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 buying an additional 554,388 shares during the period. Institutional investors own 89.07% of the company's stock.

Insider Buying and Selling at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the sale, the executive vice president now directly owns 178,342 shares of the company's stock, valued at approximately $18,347,824.96. This represents a 24.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the completion of 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 trade represents a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 411,970 shares of company stock worth $42,406,693. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Leerink Partners began coverage on Boston Scientific in a research note on Monday. They set an "outperform" rating and a $118.00 price objective for the company. Morgan Stanley lifted their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Needham & Company LLC reiterated a "buy" rating and set a $115.00 price target on shares of Boston Scientific in a report on Wednesday, May 28th. Finally, Truist Financial raised their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Twenty-two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $116.09.

Boston Scientific Stock Down 0.4%

Shares of Boston Scientific stock traded down $0.37 during trading on Thursday, hitting $101.36. The company's stock had a trading volume of 5,188,625 shares, compared to its average volume of 6,586,240. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a market capitalization of $149.96 billion, a PE ratio of 73.99, a P/E/G ratio of 2.62 and a beta of 0.68. The company has a fifty day simple moving average of $101.44 and a two-hundred day simple moving average of $98.91. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating 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 business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter last year, the firm earned $0.56 earnings per share. The business's revenue for the quarter was up 20.9% on a year-over-year basis. Equities research analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Boston Scientific Company 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.