New York Life Investment Management LLC Has $12.32 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

New York Life Investment Management LLC cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its position in Boston Scientific by 7.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 201,364 shares of the medical equipment provider’s stock worth $10,632,000 after buying an additional 13,121 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Boston Scientific by 25.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 42,606 shares of the medical equipment provider’s stock worth $2,250,000 after purchasing an additional 8,766 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Boston Scientific by 2.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 465,701 shares of the medical equipment provider’s stock valued at $24,589,000 after purchasing an additional 12,757 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Boston Scientific by 30.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 492,827 shares of the medical equipment provider’s stock worth $26,021,000 after purchasing an additional 113,832 shares during the last quarter. Finally, Stratos Wealth Advisors LLC acquired a new position in Boston Scientific during the 3rd quarter worth about $252,000. 89.07% of the stock is currently owned by institutional investors.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the sale, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the transaction, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,797 shares of company stock valued at $4,138,090. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. TD Cowen increased their target price on shares of Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Raymond James boosted their price target on shares of Boston Scientific from $73.00 to $85.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Finally, Oppenheimer upped their price target on shares of Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a research report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.09.

Boston Scientific Stock Performance

NYSE BSX opened at $71.44 on Thursday. The company has a market cap of $107.16 billion, a P/E ratio of 60.68, a PEG ratio of 2.47 and a beta of 0.77. The company has a fifty day simple moving average of $68.20 and a 200 day simple moving average of $61.03. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $74.39.

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

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.