Park Avenue Securities LLC Acquires 1,381 Shares of Boston Scientific Co. (NYSE:BSX)

Park Avenue Securities LLC raised its position in Boston Scientific Co. (NYSE:BSX) by 12.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 12,869 shares of the medical equipment provider’s stock after acquiring an additional 1,381 shares during the period. Park Avenue Securities LLC’s holdings in Boston Scientific were worth $1,149,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after acquiring an additional 173,034 shares during the period. Brookstone Capital Management boosted its position in Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after buying an additional 20,307 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Boston Scientific by 5.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock worth $168,475,000 after purchasing an additional 111,724 shares in the last quarter. HWG Holdings LP bought a new position in Boston Scientific in the 2nd quarter valued at approximately $482,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Boston Scientific by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock worth $289,675,000 after buying an additional 30,636 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on BSX. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Truist Financial boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Evercore ISI raised their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Royal Bank of Canada increased their price target on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.26.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $98.73 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $145.52 billion, a PE ratio of 81.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.80. The firm’s 50 day moving average price is $91.00 and its 200-day moving average price is $84.54. Boston Scientific Co. has a twelve month low of $59.85 and a twelve month high of $99.14.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 EPS. Equities research analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the transaction, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,989 shares of company stock worth $2,702,261. Company insiders own 0.50% of the company’s stock.

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.