Boston Scientific Corporation (NYSE:BSX) Shares Sold by M&T Bank Corp

M&T Bank Corp reduced its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 9.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,763 shares of the medical equipment provider's stock after selling 10,320 shares during the period. M&T Bank Corp's holdings in Boston Scientific were worth $10,266,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BSX. Colonial Trust Co SC lifted its position in shares of 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 purchasing an additional 260 shares in the last quarter. Investment Management Corp VA ADV acquired a new stake in Boston Scientific in the fourth quarter valued at $25,000. Sunbeam Capital Management LLC acquired a new stake in Boston Scientific in the fourth quarter valued at $26,000. Ameriflex Group Inc. acquired a new stake in Boston Scientific in the fourth quarter valued at $31,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in Boston Scientific in the fourth quarter valued at $36,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,314 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the transaction, the executive vice president owned 22,235 shares in the company, valued at $2,269,304.10. This represents a 43.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company's 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 completion of the sale, the executive vice president directly owned 178,342 shares of the company's stock, valued at $18,347,824.96. The trade was a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 461,970 shares of company stock worth $47,755,193 over the last ninety days. Insiders own 0.50% of the company's stock.

Boston Scientific Price Performance

BSX traded down $0.70 on Friday, reaching $103.16. The company had a trading volume of 5,890,147 shares, compared to its average volume of 6,710,119. The company has a fifty day moving average of $103.42 and a 200-day moving average of $100.60. The company has a market capitalization of $152.62 billion, a P/E ratio of 75.30, a PEG ratio of 2.68 and a beta of 0.68. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a one year low of $71.88 and a one year high of $107.53.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The firm 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%. Boston Scientific's revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.56 EPS. As a group, equities research analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Leerink Partnrs raised shares of Boston Scientific to a "strong-buy" rating in a report on Monday, June 16th. Citigroup reaffirmed a "buy" rating and issued a $125.00 price target (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Evercore ISI boosted their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley boosted their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Twenty-two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of "Buy" and an average target price 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.