Boston Scientific Corporation (NYSE:BSX) Shares Sold by Trust Point Inc.

Trust Point Inc. cut its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 32.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,955 shares of the medical equipment provider's stock after selling 3,340 shares during the quarter. Trust Point Inc.'s holdings in Boston Scientific were worth $702,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of BSX. Bank Pictet & Cie Europe AG boosted its holdings in Boston Scientific by 40.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after purchasing an additional 21,173 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Boston Scientific by 8.4% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 47,284 shares of the medical equipment provider's stock valued at $4,223,000 after purchasing an additional 3,683 shares during the period. Illinois Municipal Retirement Fund boosted 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 purchasing an additional 22,504 shares during the period. CIBC Asset Management Inc boosted its holdings in Boston Scientific by 4.4% in the fourth quarter. CIBC Asset Management Inc now owns 242,485 shares of the medical equipment provider's stock valued at $21,659,000 after purchasing an additional 10,181 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Boston Scientific by 1.9% in the fourth quarter. Van ECK Associates Corp now owns 58,984 shares of the medical equipment provider's stock valued at $5,268,000 after purchasing an additional 1,090 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

Shares of BSX traded down $0.37 during midday trading on Thursday, reaching $101.36. 5,188,625 shares of the stock were exchanged, compared to its average volume of 6,586,240. The company has a market capitalization of $149.96 billion, a price-to-earnings ratio of 73.99, a PEG ratio of 2.62 and a beta of 0.68. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $107.17. The business's 50-day moving average price is $101.62 and its 200 day moving average price is $98.98. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88.

Boston Scientific (NYSE:BSX - Get Free Report) last issued 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. The firm had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The firm's revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 EPS. On average, sell-side analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president now owns 36,193 shares in the company, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,314 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the transaction, the executive vice president now owns 22,235 shares in the company, valued at $2,269,304.10. The trade was a 43.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 411,970 shares of company stock worth $42,406,693 in the last quarter. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BSX shares. Leerink Partners started coverage on Boston Scientific in a report on Monday. They issued an "outperform" rating and a $118.00 target price for the company. Truist Financial lifted their target price on Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, April 24th. BTIG Research reiterated a "buy" rating and issued a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $115.00 price target on shares of Boston Scientific in a report on Wednesday, May 28th. Finally, Wall Street Zen raised Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Twenty-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Boston Scientific currently has an average rating of "Buy" and a consensus 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.