Mechanics Bank Trust Department Purchases Shares of 4,646 Boston Scientific Co. (NYSE:BSX)

Mechanics Bank Trust Department purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,646 shares of the medical equipment provider’s stock, valued at approximately $415,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings in Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after purchasing an additional 1,389,172 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Boston Scientific by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after purchasing an additional 718,515 shares in the last quarter. Geode Capital Management LLC grew its stake in Boston Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after buying an additional 480,729 shares during the last quarter. Legal & General Group Plc increased its position in Boston Scientific by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after buying an additional 360,793 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Boston Scientific by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock valued at $671,940,000 after buying an additional 64,720 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on BSX. Bank of America upped their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Friday, January 10th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada raised their price objective on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.26.

Boston Scientific Trading Up 0.6 %

BSX stock opened at $98.73 on Tuesday. Boston Scientific Co. has a 12-month low of $59.85 and a 12-month high of $99.14. The business’s 50-day moving average is $91.00 and its 200 day moving average is $84.60. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock has a market cap of $145.52 billion, a price-to-earnings ratio of 81.60, a PEG ratio of 2.48 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued 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. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 earnings per share. On average, sell-side analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This represents a 10.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,989 shares of company stock valued at $2,702,261. Corporate 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.