Eastern Bank Sells 3,327 Shares of Boston Scientific Co. (NYSE:BSX)

Eastern Bank cut its stake in Boston Scientific Co. (NYSE:BSX) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 304,881 shares of the medical equipment provider’s stock after selling 3,327 shares during the quarter. Eastern Bank’s holdings in Boston Scientific were worth $27,232,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Global Wealth Strategies & Associates lifted its position in Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares during the last quarter. Dunhill Financial LLC lifted its position in shares of Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of Boston Scientific during the third quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Boston Scientific during the third quarter worth $30,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Boston Scientific during the third quarter worth $30,000. 89.07% of the stock is currently owned by institutional investors.

Insider Transactions at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the transaction, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. This represents a 93.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,989 shares of company stock valued at $2,702,261 in the last three months. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Stock Performance

NYSE BSX traded down $0.13 during trading hours on Monday, reaching $94.75. The stock had a trading volume of 2,760,990 shares, compared to its average volume of 5,124,213. The stock has a fifty day moving average of $89.96 and a 200 day moving average of $83.89. The stock has a market cap of $139.65 billion, a P/E ratio of 78.31, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. Boston Scientific Co. has a 52-week low of $59.61 and a 52-week high of $97.13. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. Sell-side analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BSX. BTIG Research lifted their target price on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their price target on Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Morgan Stanley boosted their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. TD Cowen boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Truist Financial boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.26.

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.