Mutual of America Capital Management LLC Reduces Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Mutual of America Capital Management LLC lowered its stake in shares of Boston Scientific Co. (NYSE:BSX) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 176,947 shares of the medical equipment provider’s stock after selling 4,797 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Boston Scientific were worth $15,805,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. TFC Financial Management Inc. raised its stake in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 210 shares in the last quarter. Global Wealth Strategies & Associates grew its holdings in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 250 shares during the last quarter. West Oak Capital LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth about $29,000. Dunhill Financial LLC lifted its holdings in shares of Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Boston Scientific in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the transaction, the executive vice president now directly owns 29,308 shares in the company, valued at $2,660,580.24. The trade was a 19.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel J. Brennan sold 15,087 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the sale, the chief financial officer now directly owns 241,451 shares in the company, valued at approximately $25,369,256.57. The trade was a 5.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,305 shares of company stock valued at $14,954,985. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BSX. Piper Sandler boosted their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Canaccord Genuity Group upped their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. raised their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. UBS Group lifted their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Thursday, February 6th. One investment 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $108.91.

Boston Scientific Stock Up 3.2 %

Shares of NYSE BSX opened at $104.02 on Friday. The stock has a market capitalization of $153.51 billion, a price-to-earnings ratio of 83.21, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a 52 week low of $65.52 and a 52 week high of $107.17. The firm has a 50-day moving average price of $99.28 and a 200 day moving average price of $90.22. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results 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%. Equities research analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal 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.