Huntington National Bank Raises Stake in Boston Scientific Co. (NYSE:BSX)

Huntington National Bank lifted its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 5.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,260,697 shares of the medical equipment provider's stock after buying an additional 62,141 shares during the quarter. Boston Scientific comprises 0.8% of Huntington National Bank's holdings, making the stock its 27th biggest position. Huntington National Bank owned 0.09% of Boston Scientific worth $112,605,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Mechanics Bank Trust Department acquired a new position in Boston Scientific during the 4th quarter worth about $415,000. Highland Capital Management LLC purchased a new stake in Boston Scientific during the fourth quarter worth about $4,887,000. Covenant Asset Management LLC bought a new position in Boston Scientific during the fourth quarter valued at $3,405,000. Brookstone Capital Management increased 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 worth $9,455,000 after buying an additional 20,307 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. raised its stake in shares of Boston Scientific by 31.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider's stock valued at $1,744,000 after buying an additional 4,702 shares during the period. 89.07% of the stock is owned by institutional investors.

Boston Scientific Trading Up 0.6 %

NYSE BSX traded up $0.54 during trading on Monday, hitting $90.24. The company had a trading volume of 6,776,074 shares, compared to its average volume of 7,456,708. The company's fifty day moving average is $101.90 and its 200-day moving average is $93.71. The company has a market cap of $133.47 billion, a price-to-earnings ratio of 72.17, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17.

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Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. On average, sell-side analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BSX. Stifel Nicolaus lifted their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. TD Cowen increased their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Canaccord Genuity Group raised their target price on Boston Scientific from $98.00 to $101.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Barclays upped their price target on Boston Scientific from $111.00 to $118.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Finally, Needham & Company LLC restated a "hold" rating on shares of Boston Scientific in a research report on Monday, March 3rd. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $108.91.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 6,528 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $104.97, for a total transaction of $685,244.16. Following the sale, the executive vice president now directly owns 26,449 shares of the company's stock, valued at approximately $2,776,351.53. The trade was a 19.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,183 shares of company stock valued at $13,948,476. 0.50% of the stock is owned by corporate insiders.

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.