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

Bank of New York Mellon Corp lowered its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 8.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm 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’s holdings in Boston Scientific were worth $1,112,587,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of BSX. TFC Financial Management Inc. boosted its stake in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 210 shares during the period. Dunhill Financial LLC raised its stake in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares during the period. Global Wealth Strategies & Associates lifted its holdings in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. West Oak Capital LLC bought a new position in Boston Scientific during the fourth quarter worth $29,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Boston Scientific in the third quarter valued at $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

BSX has been the subject of a number of research reports. TD Cowen raised their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. raised their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Citigroup upped their target price on Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. UBS Group lifted their price target on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Raymond James upped their price objective on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.39.

Insiders Place Their Bets

In related news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction that occurred 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 sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the transaction, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at approximately $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 valued at $14,467,616. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $104.30 on Tuesday. Boston Scientific Co. has a 1 year low of $65.52 and a 1 year high of $107.17. The stock has a market capitalization 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. 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 company’s 50 day simple moving average is $98.25 and its 200 day simple moving average is $89.69.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, research analysts predict that Boston Scientific Co. will post 2.85 EPS 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.