Community Trust & Investment Co. Sells 33,557 Shares of Boston Scientific Co. (NYSE:BSX)

Community Trust & Investment Co. reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 15.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 179,780 shares of the medical equipment provider’s stock after selling 33,557 shares during the quarter. Community Trust & Investment Co.’s holdings in Boston Scientific were worth $16,058,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BOKF NA raised its holdings in Boston Scientific by 14.0% in the second quarter. BOKF NA now owns 3,065 shares of the medical equipment provider’s stock worth $236,000 after purchasing an additional 377 shares in the last quarter. Parallel Advisors LLC increased its holdings in Boston Scientific by 15.3% in the 2nd quarter. Parallel Advisors LLC now owns 11,790 shares of the medical equipment provider’s stock worth $908,000 after buying an additional 1,562 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new position in shares of Boston Scientific during the second quarter valued at approximately $203,000. J.W. Cole Advisors Inc. boosted its stake in shares of Boston Scientific by 9.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 3,989 shares of the medical equipment provider’s stock worth $307,000 after buying an additional 336 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of Boston Scientific during the 2nd quarter valued at about $484,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. BTIG Research upped their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Evercore ISI increased their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Wells Fargo & Company increased their target price on Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Stifel Nicolaus boosted their price target on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.26.

Boston Scientific Stock Up 1.0 %

Shares of NYSE:BSX opened at $95.54 on Wednesday. The stock has a market capitalization of $140.81 billion, a P/E ratio of 78.96, a PEG ratio of 2.67 and a beta of 0.80. 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 Co. has a 1 year low of $59.61 and a 1 year high of $97.13. The stock has a 50-day simple moving average of $90.36 and a 200-day simple moving average of $84.15.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results 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. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The company’s revenue was up 19.3% compared to the same quarter last year. Equities analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific 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 value of $1,250,672.70. Following the completion of the sale, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was 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 owns 39,398 shares in the company, valued at $3,610,038.74. The trade was a 11.02 % 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 worth $2,702,261 over the last ninety days. Company 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.