Truist Financial Corp Increases Position in Boston Scientific Corporation $BSX

Truist Financial Corp increased its position in shares of Boston Scientific Corporation (NYSE:BSX) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 242,079 shares of the medical equipment provider’s stock after acquiring an additional 12,516 shares during the quarter. Truist Financial Corp’s holdings in Boston Scientific were worth $23,634,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of BSX. Norges Bank acquired a new position in Boston Scientific in the second quarter valued at $2,089,937,000. Edgewood Management LLC purchased a new stake in Boston Scientific in the 2nd quarter valued at about $746,655,000. Parnassus Investments LLC increased its stake in shares of Boston Scientific by 42,978.9% during the 3rd quarter. Parnassus Investments LLC now owns 6,884,440 shares of the medical equipment provider’s stock valued at $672,128,000 after acquiring an additional 6,868,459 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Boston Scientific by 14,391.8% during the 2nd quarter. Bessemer Group Inc. now owns 2,919,801 shares of the medical equipment provider’s stock worth $313,618,000 after acquiring an additional 2,899,653 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Boston Scientific by 133.5% in the third quarter. Jennison Associates LLC now owns 4,938,746 shares of the medical equipment provider’s stock worth $482,170,000 after acquiring an additional 2,823,744 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $93.58 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.96. Boston Scientific Corporation has a 1-year low of $85.98 and a 1-year high of $109.50. The company has a market capitalization of $138.72 billion, a price-to-earnings ratio of 50.04, a PEG ratio of 1.64 and a beta of 0.67. The business has a 50-day moving average of $95.21 and a 200-day moving average of $99.52.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Erste Group Bank lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. UBS Group restated a “buy” rating on shares of Boston Scientific in a report on Wednesday, December 17th. Morgan Stanley lifted their target price on Boston Scientific from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Needham & Company LLC restated a “buy” rating on shares of Boston Scientific in a research note on Thursday, January 15th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Boston Scientific in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.89.

Insider Buying and Selling at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $101.55, for a total value of $1,758,135.15. Following the completion of the transaction, the executive vice president directly owned 23,600 shares in the company, valued at approximately $2,396,580. This represents a 42.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ellen M. Zane sold 12,891 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the sale, the director directly owned 24,134 shares of the company’s stock, valued at approximately $2,371,889.52. The trade was a 34.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 80,204 shares of company stock valued at $7,998,563 over the last 90 days. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.