Plimoth Trust Co. LLC Purchases 1,160 Shares of Boston Scientific Corporation (NYSE:BSX)

Plimoth Trust Co. LLC boosted its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 41.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,980 shares of the medical equipment provider’s stock after acquiring an additional 1,160 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Boston Scientific were worth $402,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Colonial Trust Co SC increased its stake in shares of Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 260 shares during the last quarter. Investment Management Corp VA ADV acquired a new position in Boston Scientific during the fourth quarter worth $25,000. Sunbeam Capital Management LLC bought a new position in Boston Scientific during the fourth quarter valued at about $26,000. Ameriflex Group Inc. acquired a new stake in shares of Boston Scientific in the fourth quarter worth about $31,000. Finally, Fairway Wealth LLC acquired a new position in shares of Boston Scientific during the 4th quarter valued at about $36,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BSX shares. Citigroup restated a “buy” rating and issued a $125.00 target price (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Barclays lifted their price objective on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Needham & Company LLC reissued a “buy” rating and set a $115.00 price objective on shares of Boston Scientific in a research report on Wednesday, May 28th. BTIG Research reaffirmed a “buy” rating and issued a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. Finally, Leerink Partners started coverage on Boston Scientific in a report on Monday. They set an “outperform” rating and a $118.00 price target for the company. Twenty-two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $116.09.

Boston Scientific Trading Down 0.4%

Shares of BSX stock opened at $101.36 on Thursday. The firm has a fifty day moving average of $101.44 and a 200-day moving average of $98.91. The stock has a market cap of $149.96 billion, a price-to-earnings ratio of 73.99, a P/E/G ratio of 2.63 and a beta of 0.68. Boston Scientific Corporation has a 52-week low of $71.88 and a 52-week high of $107.17. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. On average, equities research analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the transaction, the executive vice president now directly owns 18,705 shares of the company’s stock, valued at $1,955,420.70. This trade represents a 19.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the sale, the chief executive officer now directly owns 1,535,706 shares in the company, valued at $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 411,970 shares of company stock worth $42,406,693. Company insiders own 0.50% of the company’s stock.

Boston Scientific Company 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.