First Hawaiian Bank Cuts Stock Holdings in Boston Scientific Co. (NYSE:BSX)

First Hawaiian Bank cut its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 15.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,847 shares of the medical equipment provider's stock after selling 8,638 shares during the quarter. First Hawaiian Bank's holdings in Boston Scientific were worth $4,095,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BSX. Global Wealth Strategies & Associates increased its stake in Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. Dunhill Financial LLC grew its stake in shares of Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 152 shares during the period. Values First Advisors Inc. acquired a new position in Boston Scientific during the 3rd quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Boston Scientific during the 3rd quarter worth approximately $30,000. Finally, Capital Performance Advisors LLP acquired a new stake in Boston Scientific in the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Stock Performance

NYSE:BSX traded up $3.89 during trading hours on Wednesday, reaching $95.88. The stock had a trading volume of 10,744,330 shares, compared to its average volume of 5,469,267. The stock has a market cap of $141.31 billion, a P/E ratio of 79.24, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The stock has a 50 day simple moving average of $89.49 and a 200 day simple moving average of $83.59. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific Co. has a 12-month low of $58.09 and a 12-month high of $97.13.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates 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 quarter last year, the firm posted $0.50 EPS. On average, research analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,119 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the sale, the executive vice president now owns 35,319 shares of the company's stock, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the transaction, the executive vice president now directly owns 978 shares of the company's stock, valued at approximately $87,306.06. The trade was 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 have sold 29,989 shares of company stock worth $2,702,261. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BSX has been the subject of several recent research reports. Truist Financial boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Morgan Stanley raised their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Stifel Nicolaus lifted their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a "buy" rating in a report on Friday, October 18th. Needham & Company LLC restated a "hold" rating on shares of Boston Scientific in a report on Wednesday, November 27th. Finally, Sanford C. Bernstein boosted their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.96.

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.