New York Life Investment Management LLC Raises Stake in Boston Scientific Co. (NYSE:BSX)

New York Life Investment Management LLC lifted its position in Boston Scientific Co. (NYSE:BSX) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 203,294 shares of the medical equipment provider’s stock after purchasing an additional 2,488 shares during the period. New York Life Investment Management LLC’s holdings in Boston Scientific were worth $18,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BSX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock worth $115,000 after purchasing an additional 119 shares during the last quarter. Adero Partners LLC raised its holdings in shares of Boston Scientific by 3.3% in the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock worth $334,000 after buying an additional 120 shares during the period. Grove Bank & Trust lifted its stake in shares of Boston Scientific by 4.4% during the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after acquiring an additional 122 shares during the last quarter. PFG Investments LLC lifted its stake in shares of Boston Scientific by 1.6% during the 4th quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock worth $725,000 after acquiring an additional 125 shares during the last quarter. Finally, Stonegate Investment Group LLC boosted its holdings in Boston Scientific by 1.6% during the 4th quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock valued at $699,000 after acquiring an additional 126 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Piper Sandler lifted their target price on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research report on Thursday, February 6th. Truist Financial raised their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. UBS Group boosted their price target on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. 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.com, Boston Scientific currently has an average rating of “Moderate Buy” and an average price target of $107.39.

Boston Scientific Trading Up 0.9 %

NYSE BSX opened at $101.61 on Thursday. Boston Scientific Co. has a 52 week low of $65.52 and a 52 week high of $107.17. The company has a 50 day moving average price of $98.73 and a 200 day moving average price of $89.95. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm has a market cap of $149.96 billion, a PE ratio of 81.29, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, sell-side analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was 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 in the company, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the transaction, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at $2,660,580.24. The trade was a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,305 shares of company stock valued at $14,954,985 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

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.