Pinebridge Investments L.P. Has $7.12 Million Position in Boston Scientific Co. (NYSE:BSX)

Pinebridge Investments L.P. lessened its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 63.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,692 shares of the medical equipment provider's stock after selling 135,652 shares during the period. Pinebridge Investments L.P.'s holdings in Boston Scientific were worth $7,118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Passumpsic Savings Bank acquired a new stake in shares of Boston Scientific during the 3rd quarter worth approximately $3,015,000. World Investment Advisors LLC lifted its stake in Boston Scientific by 50.9% in the third quarter. World Investment Advisors LLC now owns 11,684 shares of the medical equipment provider's stock valued at $979,000 after buying an additional 3,939 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Boston Scientific during the third quarter valued at $1,175,000. Tidal Investments LLC grew its position in shares of Boston Scientific by 8.8% during the third quarter. Tidal Investments LLC now owns 86,507 shares of the medical equipment provider's stock worth $7,249,000 after acquiring an additional 6,990 shares during the last quarter. Finally, Synovus Financial Corp increased its holdings in shares of Boston Scientific by 7.1% in the 3rd quarter. Synovus Financial Corp now owns 17,518 shares of the medical equipment provider's stock worth $1,468,000 after acquiring an additional 1,167 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Activity at Boston Scientific

In related news, 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 transaction of $7,086,124.92. Following the completion of the sale, the chief financial officer now directly owns 225,808 shares of the company's stock, valued at approximately $23,764,033.92. This represents a 22.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction dated 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. The trade was a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,009 shares of company stock valued at $14,407,381. Insiders own 0.50% of the company's stock.

Analyst Ratings Changes

BSX has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. BTIG Research reissued a "buy" rating and set a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Morgan Stanley upped their price objective 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. Stifel Nicolaus raised their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price target for the company in a research note on Friday, January 10th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $114.52.

Boston Scientific Stock Up 0.7 %

Shares of BSX stock traded up $0.72 during trading on Tuesday, hitting $102.90. 3,205,091 shares of the company were exchanged, compared to its average volume of 6,351,346. The business's 50-day simple moving average is $98.62 and its 200 day simple moving average is $95.03. Boston Scientific Co. has a twelve month low of $70.97 and a twelve month high of $107.17. The firm has a market capitalization of $152.20 billion, a price-to-earnings ratio of 82.26, a P/E/G ratio of 2.79 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business's quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the business earned $0.56 EPS. As a group, analysts forecast that Boston Scientific Co. will post 2.85 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.