Boston Scientific Co. (BSX) Holdings Cut by Private Trust Co. NA

Private Trust Co. NA decreased its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 10.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,263 shares of the medical equipment provider’s stock after selling 4,733 shares during the quarter. Private Trust Co. NA’s holdings in Boston Scientific were worth $1,506,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in Boston Scientific by 15.1% in the third quarter. PNC Financial Services Group Inc. now owns 68,660 shares of the medical equipment provider’s stock worth $2,643,000 after purchasing an additional 9,003 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Boston Scientific by 2,296.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 128,237 shares of the medical equipment provider’s stock valued at $4,937,000 after purchasing an additional 122,886 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Boston Scientific by 32.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 85,838 shares of the medical equipment provider’s stock valued at $3,305,000 after purchasing an additional 20,821 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Boston Scientific during the 3rd quarter valued at $375,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Boston Scientific by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,926,839 shares of the medical equipment provider’s stock valued at $112,680,000 after purchasing an additional 30,832 shares during the last quarter. 91.70% of the stock is currently owned by hedge funds and other institutional investors.

NYSE BSX opened at $35.44 on Thursday. The stock has a market cap of $49.01 billion, a P/E ratio of 24.11, a PEG ratio of 2.06 and a beta of 0.87. Boston Scientific Co. has a 52-week low of $27.91 and a 52-week high of $41.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.76 and a quick ratio of 0.54.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Boston Scientific had a return on equity of 25.92% and a net margin of 17.01%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts predict that Boston Scientific Co. will post 1.55 EPS for the current fiscal year.

A number of equities analysts recently issued reports on BSX shares. Needham & Company LLC restated a “buy” rating and issued a $43.00 target price on shares of Boston Scientific in a research note on Wednesday, February 6th. Zacks Investment Research cut Boston Scientific from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. SunTrust Banks reiterated a “buy” rating and issued a $47.00 price objective on shares of Boston Scientific in a report on Friday, February 8th. Canaccord Genuity decreased their target price on shares of Boston Scientific from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Finally, Argus lifted their price target on shares of Boston Scientific from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, February 13th. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $40.72.

In other news, SVP Maulik Nanavaty sold 3,039 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $37.81, for a total value of $114,904.59. Following the sale, the senior vice president now directly owns 53,299 shares in the company, valued at $2,015,235.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel J. Brennan sold 22,438 shares of the stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $39.57, for a total transaction of $887,871.66. Following the completion of the sale, the chief financial officer now owns 279,183 shares in the company, valued at $11,047,271.31. The disclosure for this sale can be found here. Insiders have sold 342,352 shares of company stock worth $13,701,434 over the last 90 days. 0.66% of the stock is currently owned by company insiders.

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About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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