Legal & General Group Plc Lowers Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Legal & General Group Plc reduced its stake in Boston Scientific Co. (NYSE:BSX) by 20.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,738,806 shares of the medical equipment provider’s stock after selling 2,743,301 shares during the quarter. Legal & General Group Plc owned 0.73% of Boston Scientific worth $959,190,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. TFC Financial Management Inc. raised its position 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 buying an additional 210 shares during the last quarter. Dunhill Financial LLC raised its holdings in Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares in the last quarter. Global Wealth Strategies & Associates raised its holdings in 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 in the last quarter. West Oak Capital LLC purchased a new stake in Boston Scientific in the 4th quarter valued at approximately $29,000. Finally, Valley National Advisers Inc. increased its position in Boston Scientific by 262.4% during the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 286 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the firm’s 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 transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the transaction, the executive vice president now owns 28,454 shares in the company, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,183 shares of company stock valued at $13,948,476. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Down 8.9 %

BSX opened at $89.78 on Monday. The stock has a market capitalization of $132.78 billion, a price-to-earnings ratio of 71.82, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The business has a 50-day moving average of $101.90 and a two-hundred day moving average of $93.71.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping 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%. On average, research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BSX. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research note on Friday, January 10th. Raymond James upped their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. Barclays raised their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. UBS Group upped their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Argus set a $130.00 price target on shares of Boston Scientific in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $108.91.

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.