Community Trust & Investment Co. Sells 4,511 Shares of Boston Scientific Co. (NYSE:BSX)

Community Trust & Investment Co. cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 2.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 213,337 shares of the medical equipment provider’s stock after selling 4,511 shares during the period. Community Trust & Investment Co.’s holdings in Boston Scientific were worth $17,878,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Boston Scientific by 1.6% during the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after acquiring an additional 1,988,082 shares in the last quarter. Capital World Investors boosted its holdings in Boston Scientific by 69.9% during the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after purchasing an additional 6,588,256 shares during the last quarter. Legal & General Group Plc boosted its holdings in Boston Scientific by 2.7% during the second quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock worth $1,072,195,000 after purchasing an additional 360,793 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Boston Scientific by 30.0% during the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after purchasing an additional 1,824,405 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Boston Scientific by 15.0% during the first quarter. Canada Pension Plan Investment Board now owns 7,897,203 shares of the medical equipment provider’s stock worth $540,879,000 after purchasing an additional 1,027,543 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Performance

Boston Scientific stock opened at $88.02 on Wednesday. The firm’s 50 day simple moving average is $82.97 and its 200 day simple moving average is $77.50. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $129.13 billion, a PE ratio of 73.97, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. Boston Scientific Co. has a 1-year low of $49.15 and a 1-year high of $88.79.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. Boston Scientific’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. As a group, analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at approximately $2,978,734.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 316,253 shares of company stock valued at $26,714,298 in the last quarter. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Needham & Company LLC cut shares of Boston Scientific from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Citigroup boosted their target price on shares of Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.68.

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.