Central Pacific Bank Trust Division Acquires 2,677 Shares of Boston Scientific Co. (NYSE:BSX)

Central Pacific Bank Trust Division lifted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 10.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 27,883 shares of the medical equipment provider’s stock after buying an additional 2,677 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Boston Scientific were worth $2,337,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mattson Financial Services LLC purchased a new stake in Boston Scientific during the 2nd quarter valued at $2,339,000. Newbridge Financial Services Group Inc. lifted its position in shares of Boston Scientific by 2,100.5% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 9,132 shares of the medical equipment provider’s stock worth $703,000 after purchasing an additional 8,717 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Boston Scientific in the 2nd quarter worth about $5,349,000. Brown Financial Advisors purchased a new stake in shares of Boston Scientific in the 2nd quarter worth about $1,423,000. Finally, RiverFront Investment Group LLC bought a new position in shares of Boston Scientific in the 2nd quarter worth about $222,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

BSX opened at $84.47 on Thursday. 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 company has a market cap of $123.93 billion, a price-to-earnings ratio of 70.98, a PEG ratio of 2.78 and a beta of 0.79. The company’s 50 day moving average is $79.69 and its 200 day moving average is $75.62. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $84.89.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts predict that Boston Scientific Co. will post 2.4 EPS for the current year.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 20,949 shares of company stock worth $1,673,685. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on BSX shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Evercore ISI increased their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday. Canaccord Genuity Group increased their price target on shares of Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, TD Cowen raised their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.10.

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.