Boston Scientific Co. (NYSE:BSX) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. decreased its position in Boston Scientific Co. (NYSE:BSX) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,511 shares of the medical equipment provider’s stock after selling 317 shares during the quarter. Fulton Bank N.A.’s holdings in Boston Scientific were worth $2,100,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BSX. State Street Corp boosted its holdings in Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after purchasing an additional 1,389,172 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Boston Scientific by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after buying an additional 718,515 shares during the period. Geode Capital Management LLC grew its position in shares of Boston Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after buying an additional 480,729 shares during the last quarter. Legal & General Group Plc grew its position in shares of Boston Scientific by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after buying an additional 360,793 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Boston Scientific by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after acquiring an additional 64,720 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BSX. Truist Financial upped their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Citigroup increased their target price on Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. JPMorgan Chase & Co. increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Finally, Evercore ISI boosted their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.96.

Boston Scientific Stock Performance

Shares of BSX opened at $95.88 on Thursday. Boston Scientific Co. has a 12-month low of $58.09 and a 12-month high of $97.13. The stock has a market capitalization of $141.31 billion, a P/E ratio of 79.24, a P/E/G ratio of 2.67 and a beta of 0.80. The firm’s 50 day moving average is $89.49 and its 200-day moving average is $83.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. Equities research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Activity

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the sale, the director now directly owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific 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 in the company, valued at approximately $87,306.06. This trade represents a 93.47 % 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 over the last three months. Insiders own 0.50% of the company’s stock.

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.