First National Trust Co Cuts Position in Boston Scientific Co. (NYSE:BSX)

First National Trust Co decreased its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 11.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,299 shares of the medical equipment provider's stock after selling 29,779 shares during the quarter. First National Trust Co's holdings in Boston Scientific were worth $13,487,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new stake in Boston Scientific in the fourth quarter worth about $28,000. Motco boosted its stake in shares of Boston Scientific by 136.3% during the third quarter. Motco now owns 645 shares of the medical equipment provider's stock valued at $34,000 after purchasing an additional 372 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Boston Scientific by 58.0% during the fourth quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider's stock valued at $34,000 after buying an additional 215 shares during the period. Asset Dedication LLC raised its stake in Boston Scientific by 42.6% in the third quarter. Asset Dedication LLC now owns 786 shares of the medical equipment provider's stock worth $41,000 after buying an additional 235 shares in the last quarter. Finally, CNB Bank purchased a new stake in Boston Scientific during the third quarter worth $42,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Boston Scientific news, EVP John Bradley Sorenson sold 17,587 shares of the firm's stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the sale, the executive vice president now directly owns 50,638 shares of the company's stock, valued at $3,620,617. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Bradley Sorenson sold 17,587 shares of the firm's stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the transaction, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,620,617. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,384 shares of company stock valued at $5,395,560. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Performance

NYSE:BSX traded up $0.82 during trading hours on Friday, reaching $72.85. The company had a trading volume of 7,452,084 shares, compared to its average volume of 7,241,391. The firm has a market cap of $106.88 billion, a PE ratio of 61.22, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $74.39. The business's 50 day moving average price is $68.42 and its 200-day moving average price is $61.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 0.82.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The company had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.59 billion. During the same quarter in the previous year, the company earned $0.45 earnings per share. Research analysts forecast that Boston Scientific Co. will post 2.32 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup boosted their price target on Boston Scientific from $79.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, April 25th. Argus increased their price target on shares of Boston Scientific from $69.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Boston Scientific from $63.00 to $73.00 and gave the company a "hold" rating in a report on Thursday, April 25th. Raymond James boosted their price objective on shares of Boston Scientific from $73.00 to $85.00 and gave the stock a "strong-buy" rating in a research note on Thursday, April 25th. Finally, Oppenheimer raised their target price on shares of Boston Scientific from $58.00 to $68.00 and gave the company a "market perform" rating in a research note on Thursday, February 1st. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.09.

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.