Penobscot Investment Management Company Inc. Buys 4,075 Shares of Boston Scientific Corporation (NYSE:BSX)

Penobscot Investment Management Company Inc. raised its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,430 shares of the medical equipment provider's stock after buying an additional 4,075 shares during the period. Penobscot Investment Management Company Inc.'s holdings in Boston Scientific were worth $3,272,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Bank Pictet & Cie Europe AG increased 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 buying an additional 21,173 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Boston Scientific by 18.8% in the first quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider's stock valued at $3,987,000 after purchasing an additional 6,264 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of 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 purchasing an additional 575 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of 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 purchasing an additional 141,398 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Boston Scientific by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider's stock valued at $1,477,307,000 after purchasing an additional 832,386 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BSX shares. Evercore ISI raised their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Erste Group Bank raised shares of Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Wall Street Zen raised shares of Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Citigroup reissued a "buy" rating and issued a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Finally, BTIG Research reissued a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Twenty-two equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $116.09.

Insider Activity

In related news, EVP Arthur C. Butcher sold 17,314 shares of the business's stock in a transaction on 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 sale, the executive vice president now directly owns 22,235 shares of the company's stock, valued at approximately $2,269,304.10. The trade was a 43.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares in the company, valued at $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock valued at $42,406,693 in the last quarter. Company insiders own 0.50% of the company's stock.

Boston Scientific Trading Up 2.1%

Shares of BSX stock traded up $2.25 on Friday, hitting $106.83. The stock had a trading volume of 15,636,958 shares, compared to its average volume of 6,623,509. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $107.17. The firm has a market cap of $158.05 billion, a P/E ratio of 77.98, a PEG ratio of 2.75 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. The company has a fifty day moving average price of $102.74 and a two-hundred day moving average price of $99.62.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $4.57 billion. During the same quarter in the previous year, the business earned $0.56 EPS. The firm's revenue was up 20.9% on a year-over-year basis. As a group, analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal 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.