American International Group Inc. Trims Holdings in Boston Scientific Co. (NYSE:BSX)

American International Group Inc. lowered its holdings in Boston Scientific Co. (NYSE:BSX) by 2.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 440,802 shares of the medical equipment provider’s stock after selling 12,801 shares during the quarter. American International Group Inc.’s holdings in Boston Scientific were worth $25,483,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new stake in Boston Scientific in the fourth quarter worth about $28,000. Sachetta LLC purchased a new stake in shares of Boston Scientific in the 4th quarter worth about $32,000. Frazier Financial Advisors LLC bought a new position in shares of Boston Scientific in the 4th quarter worth about $32,000. Jones Financial Companies Lllp lifted its position in Boston Scientific by 53.0% during the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 193 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in Boston Scientific by 58.0% during the fourth quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 215 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BSX. Raymond James lifted their target price on shares of Boston Scientific from $73.00 to $85.00 and gave the company a “strong-buy” rating in a report on Thursday, April 25th. Wells Fargo & Company boosted their target price on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Needham & Company LLC lifted their price target on Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday, May 31st. Finally, TD Cowen lifted their target price on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $76.70.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,620,617. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Boston Scientific news, Director Edward J. Ludwig sold 9,818 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the sale, the director now owns 41,374 shares in the company, valued at approximately $3,032,300.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the transaction, the executive vice president now owns 50,638 shares in the company, valued at $3,620,617. The disclosure for this sale can be found here. Insiders sold 81,627 shares of company stock worth $5,937,353 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

NYSE:BSX traded down $0.03 on Wednesday, hitting $75.89. The stock had a trading volume of 5,188,123 shares, compared to its average volume of 6,406,321. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $76.25. The stock has a market cap of $111.34 billion, a price-to-earnings ratio of 63.77, a price-to-earnings-growth ratio of 2.60 and a beta of 0.81. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The business’s 50-day simple moving average is $71.85 and its two-hundred day simple moving average is $65.02.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.68 billion. As a group, research analysts predict that Boston Scientific Co. will post 2.32 earnings per share for the current 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.