Boston Scientific Co. (NYSE:BSX) Stock Holdings Lessened by New York Life Investment Management LLC

New York Life Investment Management LLC lowered its holdings in Boston Scientific Co. (NYSE:BSX) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 213,103 shares of the medical equipment provider’s stock after selling 1,207 shares during the period. New York Life Investment Management LLC’s holdings in Boston Scientific were worth $12,319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Victory Capital Management Inc. grew its position in Boston Scientific by 5.6% in the 3rd quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock worth $27,353,000 after purchasing an additional 27,620 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Boston Scientific in the fourth quarter worth $5,116,000. Glenmede Trust Co. NA increased its holdings in shares of Boston Scientific by 12.1% during the third quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock valued at $551,000 after purchasing an additional 1,123 shares during the period. Principal Financial Group Inc. boosted its stake in Boston Scientific by 2.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock worth $98,683,000 after purchasing an additional 38,249 shares during the period. Finally, HealthInvest Partners AB purchased a new stake in shares of Boston Scientific in the fourth quarter valued at $3,746,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Down 1.1 %

Shares of BSX opened at $71.44 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The company has a market capitalization of $107.16 billion, a P/E ratio of 60.68, a PEG ratio of 2.47 and a beta of 0.77. The business’s 50 day simple moving average is $68.20 and its 200-day simple moving average is $61.03. Boston Scientific Co. has a one year low of $48.35 and a one year high of $74.39.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same period in the previous year, the firm posted $0.45 earnings per share. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Mizuho boosted their price objective on shares of Boston Scientific from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Oppenheimer boosted their target price on Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, February 1st. UBS Group raised their price target on Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. TD Cowen increased their price objective on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Finally, Argus lifted their target price on shares of Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.09.

Insider Transactions at Boston Scientific

In other news, Director Edward J. Ludwig sold 9,818 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the transaction, the director now owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Edward J. Ludwig sold 9,818 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $73.29, for a total value of $719,561.22. Following the transaction, the director now owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. Insiders sold a total of 60,797 shares of company stock worth $4,138,090 over the last 90 days. 0.50% of the stock is owned by insiders.

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.