Truist Financial Corp Acquires 2,254 Shares of Boston Scientific Co. (NYSE:BSX)

Truist Financial Corp boosted its stake in Boston Scientific Co. (NYSE:BSX) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 214,594 shares of the medical equipment provider’s stock after purchasing an additional 2,254 shares during the period. Truist Financial Corp’s holdings in Boston Scientific were worth $16,526,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Campbell & CO Investment Adviser LLC acquired a new position in shares of Boston Scientific in the fourth quarter worth approximately $507,000. Jones Financial Companies Lllp increased its position in shares of Boston Scientific by 53.0% during the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 193 shares during the period. Oppenheimer & Co. Inc. raised its stake in Boston Scientific by 7.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 85,373 shares of the medical equipment provider’s stock worth $4,935,000 after buying an additional 5,638 shares during the last quarter. Cetera Advisor Networks LLC raised its stake in Boston Scientific by 0.4% during the fourth quarter. Cetera Advisor Networks LLC now owns 180,174 shares of the medical equipment provider’s stock worth $10,416,000 after buying an additional 667 shares during the last quarter. Finally, Morningstar Investment Services LLC acquired a new position in Boston Scientific in the fourth quarter valued at $330,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Up 0.9 %

Shares of NYSE:BSX opened at $84.55 on Friday. The company has a market capitalization of $124.04 billion, a PE ratio of 71.05, a price-to-earnings-growth ratio of 2.78 and a beta of 0.80. The business has a fifty day moving average price of $80.07 and a two-hundred day moving average price of $75.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $84.89.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on BSX. Robert W. Baird lifted their price objective on Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Truist Financial increased their price target on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. TD Cowen lifted their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.10.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the sale, the executive vice president now directly owns 40,188 shares in the company, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 20,949 shares of company stock valued at $1,673,685 in the last 90 days. Insiders own 0.50% of the company’s stock.

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.