Bank of New York Mellon Corp Sells 1,194,221 Shares of Boston Scientific Co. (NYSE:BSX)

Bank of New York Mellon Corp reduced its position in shares of Boston Scientific Co. (NYSE:BSX) by 8.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,456,195 shares of the medical equipment provider’s stock after selling 1,194,221 shares during the period. Bank of New York Mellon Corp owned about 0.85% of Boston Scientific worth $1,112,587,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Advisor Group LLC boosted its holdings in shares of Boston Scientific by 2.7% in the 3rd quarter. Private Advisor Group LLC now owns 36,003 shares of the medical equipment provider’s stock worth $3,017,000 after acquiring an additional 944 shares in the last quarter. PFG Investments LLC boosted its stake in Boston Scientific by 3.3% in the third quarter. PFG Investments LLC now owns 7,988 shares of the medical equipment provider’s stock worth $669,000 after purchasing an additional 258 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Boston Scientific by 123.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 158,538 shares of the medical equipment provider’s stock worth $13,285,000 after purchasing an additional 87,470 shares in the last quarter. Cavalier Investments LLC grew its holdings in shares of Boston Scientific by 6.7% during the third quarter. Cavalier Investments LLC now owns 71,841 shares of the medical equipment provider’s stock worth $6,020,000 after purchasing an additional 4,485 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in shares of Boston Scientific by 11.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 13,718 shares of the medical equipment provider’s stock valued at $1,150,000 after buying an additional 1,445 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BSX. Canaccord Genuity Group upped their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. UBS Group upped their price objective on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Piper Sandler lifted their target price on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company upped their price target on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Barclays lifted their price objective on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.39.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $104.30 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The firm has a market cap of $153.92 billion, a price-to-earnings ratio of 83.44, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a one year low of $65.52 and a one year high of $107.17. The stock’s 50-day moving average is $98.25 and its 200-day moving average is $89.69.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share 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%. Equities analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the transaction, the executive vice president now owns 29,308 shares of the company’s stock, valued at $2,660,580.24. The trade was a 19.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 139,630 shares of company stock worth $14,467,616. 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.