Truist Financial Corp Grows Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Truist Financial Corp grew its position in shares of Boston Scientific Co. (NYSE:BSX) by 1.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 214,594 shares of the medical equipment provider’s stock after acquiring an additional 2,254 shares during the quarter. Truist Financial Corp’s holdings in Boston Scientific were worth $16,526,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of BSX. HWG Holdings LP purchased a new stake in Boston Scientific during the second quarter valued at about $482,000. EP Wealth Advisors LLC lifted its stake in shares of Boston Scientific by 4.1% in the 2nd quarter. EP Wealth Advisors LLC now owns 13,066 shares of the medical equipment provider’s stock valued at $1,006,000 after acquiring an additional 514 shares during the last quarter. Ecofi Investissements SA bought a new stake in shares of Boston Scientific in the 2nd quarter valued at about $11,058,000. Quarry LP bought a new position in Boston Scientific during the 2nd quarter worth approximately $33,000. Finally, Sunbelt Securities Inc. increased its stake in Boston Scientific by 85.8% in the 2nd quarter. Sunbelt Securities Inc. now owns 1,213 shares of the medical equipment provider’s stock worth $93,000 after purchasing an additional 560 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Price Performance

BSX opened at $84.55 on Friday. The firm has a market cap of $124.04 billion, a PE ratio of 71.05, a P/E/G ratio of 2.78 and a beta of 0.80. The stock has a 50-day moving average price of $80.07 and a 200-day moving average price of $75.80. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $84.89. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business’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 earnings per share. Sell-side analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the sale, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 20,949 shares of company stock worth $1,673,685 over the last quarter. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays increased their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Evercore ISI raised their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday. Raymond James upped their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Truist Financial upped their price target on Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.10.

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.