MetLife Investment Management LLC Lowers Holdings in Boston Scientific Co. (NYSE:BSX)

MetLife Investment Management LLC lowered its holdings in Boston Scientific Co. (NYSE:BSX) by 2.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 382,860 shares of the medical equipment provider’s stock after selling 9,262 shares during the period. MetLife Investment Management LLC’s holdings in Boston Scientific were worth $32,084,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific during the second quarter worth $26,000. Values First Advisors Inc. acquired a new position in Boston Scientific during the 3rd quarter worth $28,000. Andra AP fonden purchased a new stake in Boston Scientific during the 2nd quarter worth about $29,000. Lynx Investment Advisory acquired a new stake in Boston Scientific in the 2nd quarter valued at about $30,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Boston Scientific in the 3rd quarter valued at about $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the sale, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the sale, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 328,157 shares of company stock valued at $27,894,270 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Royal Bank of Canada raised their price target on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Raymond James upped their price objective on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. Bank of America raised their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Trading Up 0.5 %

Shares of Boston Scientific stock opened at $90.62 on Wednesday. The company has a 50-day moving average of $86.26 and a two-hundred day moving average of $80.44. The stock has a market cap of $133.56 billion, a PE ratio of 74.54, a price-to-earnings-growth ratio of 2.63 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12-month low of $53.93 and a 12-month high of $91.93.

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