MetLife Investment Management LLC Acquires 7,152 Shares of Boston Scientific Co. (NYSE:BSX)

MetLife Investment Management LLC lifted its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 390,012 shares of the medical equipment provider's stock after buying an additional 7,152 shares during the quarter. MetLife Investment Management LLC's holdings in Boston Scientific were worth $34,836,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. TFC Financial Management Inc. grew its holdings in Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after buying an additional 210 shares in the last quarter. Global Wealth Strategies & Associates increased its stake 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 buying an additional 250 shares during the period. West Oak Capital LLC acquired a new stake in shares of Boston Scientific in the 4th quarter worth approximately $29,000. Valley National Advisers Inc. boosted its holdings in shares of Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock valued at $35,000 after acquiring an additional 286 shares in the last quarter. Finally, Fairway Wealth LLC bought a new stake in Boston Scientific during the fourth quarter worth approximately $36,000. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BSX shares. Barclays upped their price objective on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Friday. Morgan Stanley lifted their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. BTIG Research reiterated a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a research report on Wednesday. Needham & Company LLC raised their target price on shares of Boston Scientific from $113.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Piper Sandler raised their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Boston Scientific currently has a consensus rating of "Buy" and an average target price of $114.52.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded up $0.84 during trading on Friday, reaching $101.98. The stock had a trading volume of 2,614,561 shares, compared to its average volume of 6,363,582. The firm has a market capitalization of $150.84 billion, a price-to-earnings ratio of 81.49, a P/E/G ratio of 2.79 and a beta of 0.73. Boston Scientific Co. has a 52 week low of $70.97 and a 52 week high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $98.75 and a two-hundred day simple moving average of $94.69.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. As a group, analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. This trade represents a 11.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel J. Brennan sold 67,333 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the completion of the sale, the chief financial officer now owns 225,808 shares in the company, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 138,009 shares of company stock worth $14,407,381. Company insiders own 0.50% of the company's stock.

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.