Boston Scientific Co. (NYSE:BSX) Stock Position Decreased by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 382,860 shares of the medical equipment provider's stock after selling 9,262 shares during the quarter. MetLife Investment Management LLC's holdings in Boston Scientific were worth $32,084,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific 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 transaction, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. The trade was a 93.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the transaction, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This represents a 16.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 328,157 shares of company stock worth $27,894,270 over the last ninety days. Company insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

BSX has been the topic of several research analyst reports. Canaccord Genuity Group raised their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Citigroup boosted their price objective on shares of Boston Scientific from $92.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Stifel Nicolaus increased their target price on Boston Scientific from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, October 18th. Wells Fargo & Company raised their price target on shares of Boston Scientific from $87.00 to $98.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Finally, TD Cowen boosted their price objective on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $93.39.

Boston Scientific Stock Performance

Shares of BSX stock traded up $0.55 on Wednesday, hitting $90.76. 3,788,407 shares of the stock traded hands, compared to its average volume of 6,078,275. The company's fifty day moving average is $86.43 and its 200 day moving average is $80.51. The company has a market capitalization of $133.76 billion, a PE ratio of 75.01, a PEG ratio of 2.63 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a 1-year low of $53.93 and a 1-year high of $91.93.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to analysts' expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm's revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm earned $0.50 EPS. On average, equities research analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Boston Scientific Company 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.