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

Corebridge Financial Inc. grew its holdings in Boston Scientific Co. (NYSE:BSX) by 7.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 and hedge funds also recently added to or reduced their stakes in the stock. Parnassus Investments LLC grew its holdings in shares of Boston Scientific by 0.7% in the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after purchasing an additional 97 shares in the last quarter. PDS Planning Inc lifted its holdings in Boston Scientific by 1.5% during the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after buying an additional 113 shares in the last quarter. Adero Partners LLC boosted its position in Boston Scientific by 3.3% in the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock valued at $334,000 after buying an additional 120 shares during the period. Grove Bank & Trust grew its stake in shares of Boston Scientific by 4.4% in the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after acquiring an additional 122 shares in the last quarter. Finally, PFG Investments LLC increased its position in shares of Boston Scientific by 1.6% during the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock worth $725,000 after acquiring an additional 125 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on BSX shares. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Friday, January 10th. UBS Group boosted their price objective on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Canaccord Genuity Group raised their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. Raymond James boosted their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Finally, Citigroup increased their price objective 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. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

Boston Scientific Trading Down 0.8 %

Shares of Boston Scientific stock opened at $100.66 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The company has a market capitalization of $148.89 billion, a P/E ratio of 80.53, a PEG ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17. The company’s fifty day moving average is $101.68 and its two-hundred day moving average is $92.50.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock worth $14,319,269 over the last 90 days. 0.50% of the stock is currently owned by insiders.

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.