Corebridge Financial Inc. Boosts Stock Position in Boston Scientific Co. (NYSE:BSX)

Corebridge Financial Inc. lifted its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 440,953 shares of the medical equipment provider's stock after purchasing an additional 31,551 shares during the quarter. Corebridge Financial Inc.'s holdings in Boston Scientific were worth $39,386,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mechanics Bank Trust Department purchased a new stake in shares of Boston Scientific in the fourth quarter worth about $415,000. Highland Capital Management LLC purchased a new stake in Boston Scientific in the 4th quarter worth approximately $4,887,000. Covenant Asset Management LLC bought a new position in Boston Scientific in the 4th quarter valued at $3,405,000. Brookstone Capital Management boosted its holdings in Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock valued at $9,455,000 after purchasing an additional 20,307 shares during the period. Finally, Beacon Investment Advisory Services Inc. grew its position in shares of Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider's stock valued at $1,744,000 after purchasing an additional 4,702 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Activity

In other news, EVP Arthur C. Butcher sold 17,313 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the transaction, the executive vice president now owns 5,502 shares in the company, valued at $560,103.60. This trade represents a 75.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the transaction, the executive vice president now owns 25,443 shares of the company's stock, valued at approximately $2,704,845.33. This trade represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,302 shares of company stock valued at $14,319,269. Company insiders own 0.50% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BSX shares. Wells Fargo & Company lifted 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. Stifel Nicolaus lifted their price target on Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Argus set a $130.00 price objective on shares of Boston Scientific in a research report on Tuesday, February 18th. Citigroup lifted their target price on shares of Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Finally, Morgan Stanley increased their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Two equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $108.91.

Boston Scientific Trading Down 1.5 %

Shares of Boston Scientific stock traded down $1.51 on Friday, hitting $99.29. The stock had a trading volume of 7,402,670 shares, compared to its average volume of 6,051,507. The stock's 50-day simple moving average is $102.16 and its two-hundred day simple moving average is $93.04. Boston Scientific Co. has a one year low of $66.80 and a one year 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 market cap of $146.86 billion, a price-to-earnings ratio of 79.43, a PEG ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating 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, sell-side analysts predict that Boston Scientific Co. will post 2.85 EPS for the current 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.