Prudential Financial Inc. Sells 671,744 Shares of Boston Scientific Co. (NYSE:BSX)

Prudential Financial Inc. lowered its position in shares of Boston Scientific Co. (NYSE:BSX) by 26.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,898,455 shares of the medical equipment provider’s stock after selling 671,744 shares during the quarter. Prudential Financial Inc.’s holdings in Boston Scientific were worth $169,570,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BSX. Advisors Asset Management Inc. boosted its position in Boston Scientific by 21.3% in the third quarter. Advisors Asset Management Inc. now owns 24,060 shares of the medical equipment provider’s stock worth $2,016,000 after purchasing an additional 4,233 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in shares of Boston Scientific by 41.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 5,039 shares of the medical equipment provider’s stock worth $422,000 after purchasing an additional 1,475 shares during the period. Nwam LLC bought a new position in Boston Scientific during the third quarter valued at about $294,000. Great Valley Advisor Group Inc. grew its position in Boston Scientific by 2.7% during the third quarter. Great Valley Advisor Group Inc. now owns 40,455 shares of the medical equipment provider’s stock valued at $3,390,000 after buying an additional 1,074 shares during the period. Finally, Cerity Partners LLC raised its position in Boston Scientific by 12.7% in the third quarter. Cerity Partners LLC now owns 711,882 shares of the medical equipment provider’s stock worth $59,656,000 after acquiring an additional 80,334 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BSX shares. UBS Group increased their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Morgan Stanley raised their target price on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Piper Sandler increased their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company boosted their price objective 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, TD Cowen increased 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 Thursday, December 12th. Two research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $108.91.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the sale, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,302 shares of company stock worth $14,319,269 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX opened at $100.66 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $101.68 and a 200-day moving average price of $92.50. The company has a market cap of $148.89 billion, a PE ratio of 80.53, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17.

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

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.