Boston Scientific Co. (NYSE:BSX) Shares Sold by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. lessened its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 23.3% during the 4th quarter, HoldingsChannel reports. The firm owned 6,256 shares of the medical equipment provider’s stock after selling 1,899 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Boston Scientific were worth $559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Boston Scientific during the 4th quarter valued at about $1,762,522,000. Capital World Investors boosted its position in shares of Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock valued at $2,492,041,000 after acquiring an additional 6,216,199 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Boston Scientific by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after acquiring an additional 3,344,571 shares during the last quarter. Axiom Investors LLC DE boosted its position in shares of Boston Scientific by 208.2% during the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock valued at $335,167,000 after acquiring an additional 2,535,007 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Boston Scientific by 18.0% during the 4th quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider’s stock valued at $1,303,681,000 after acquiring an additional 2,221,790 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Down 0.0%

BSX stock opened at $104.49 on Tuesday. The company’s 50 day moving average price is $100.05 and its 200 day moving average price is $97.55. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The firm has a market capitalization of $154.59 billion, a price-to-earnings ratio of 83.59, a PEG ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the firm earned $0.56 earnings per share. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BSX has been the topic of several research analyst reports. UBS Group boosted their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Morgan Stanley boosted their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Barclays boosted their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Royal Bank of Canada boosted their price objective on shares of Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Finally, Citigroup restated a “buy” rating and issued a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Twenty-three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $114.87.

Insider Buying and Selling

In related news, CEO Michael F. Mahoney sold 164,443 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now directly owns 1,535,706 shares of the company’s stock, valued at $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 4,572 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,155 shares of company stock worth $19,556,047. 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.