WASHINGTON TRUST Co Boosts Stock Position in Boston Scientific Co. (NYSE:BSX)

WASHINGTON TRUST Co lifted its position in Boston Scientific Co. (NYSE:BSX) by 320.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,418 shares of the medical equipment provider’s stock after purchasing an additional 6,418 shares during the quarter. WASHINGTON TRUST Co’s holdings in Boston Scientific were worth $487,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Boston Scientific during the first quarter worth approximately $54,000. Acadian Asset Management LLC bought a new stake in Boston Scientific during the first quarter worth approximately $35,000. Prudential PLC bought a new stake in Boston Scientific during the first quarter worth approximately $1,076,000. Cetera Investment Advisers boosted its position in shares of Boston Scientific by 24.0% during the first quarter. Cetera Investment Advisers now owns 28,793 shares of the medical equipment provider’s stock valued at $1,275,000 after buying an additional 5,581 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Boston Scientific during the first quarter valued at approximately $230,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Raymond James boosted their price target on Boston Scientific from $67.00 to $73.00 and gave the company a “strong-buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. upped their price target on shares of Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. TD Cowen upped their price target on shares of Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. BTIG Research reaffirmed a “buy” rating and issued a $64.00 price target on shares of Boston Scientific in a report on Friday, December 29th. Finally, Citigroup increased their target price on shares of Boston Scientific from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $66.62.

Boston Scientific Stock Performance

NYSE BSX traded down $0.03 during trading on Thursday, reaching $68.59. The company’s stock had a trading volume of 1,626,069 shares, compared to its average volume of 6,481,334. The firm has a market cap of $100.82 billion, a price-to-earnings ratio of 64.13, a P/E/G ratio of 2.38 and a beta of 0.78. Boston Scientific Co. has a twelve month low of $48.35 and a twelve month high of $68.80. The business’s fifty day moving average price is $65.24 and its 200-day moving average price is $58.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. During the same quarter last year, the firm posted $0.45 earnings per share. As a group, analysts anticipate that Boston Scientific Co. will post 2.25 EPS for the current fiscal year.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were 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 of the company’s stock, valued at $3,779,820.12. The disclosure for this sale can be found here. Insiders sold a total of 76,460 shares of company stock worth $4,759,945 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

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.