Mechanics Bank Trust Department Invests $415,000 in Boston Scientific Co. (NYSE:BSX)

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

A number of other large investors also recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after acquiring an additional 173,034 shares during the period. Brookstone Capital Management raised its position in Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after purchasing an additional 20,307 shares during the period. Principal Financial Group Inc. lifted its stake in Boston Scientific by 5.9% during the third quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock worth $168,475,000 after purchasing an additional 111,724 shares in the last quarter. HWG Holdings LP purchased a new position in shares of Boston Scientific during the second quarter worth $482,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Boston Scientific by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock valued at $289,675,000 after buying an additional 30,636 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Evercore ISI raised their target price on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Royal Bank of Canada upped their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. BTIG Research raised their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Wells Fargo & Company upped their price objective on Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $97.26.

Boston Scientific Stock Performance

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

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The business’s revenue was up 19.3% compared to the same quarter last year. As a group, equities analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the sale, the executive vice president now owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. The trade was a 19.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares of the company’s stock, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,989 shares of company stock valued at $2,702,261. 0.50% of the stock is owned by company insiders.

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.