Bank of New York Mellon Corp Sells 175,691 Shares of Boston Scientific Corporation $BSX

Bank of New York Mellon Corp trimmed its stake in Boston Scientific Corporation (NYSE:BSX) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,032,972 shares of the medical equipment provider’s stock after selling 175,691 shares during the quarter. Bank of New York Mellon Corp’s holdings in Boston Scientific were worth $1,077,149,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. State Street Corp boosted its stake in Boston Scientific by 1.1% in the 2nd quarter. State Street Corp now owns 65,191,864 shares of the medical equipment provider’s stock worth $7,002,258,000 after purchasing an additional 713,379 shares during the period. Synergy Asset Management LLC lifted its holdings in shares of Boston Scientific by 3,493.0% in the third quarter. Synergy Asset Management LLC now owns 493,323 shares of the medical equipment provider’s stock worth $48,297,000 after buying an additional 479,593 shares in the last quarter. Gladstone Institutional Advisory LLC boosted its position in shares of Boston Scientific by 39.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 51,884 shares of the medical equipment provider’s stock valued at $5,065,000 after acquiring an additional 14,700 shares during the period. Channel Wealth LLC grew its stake in Boston Scientific by 70.8% during the third quarter. Channel Wealth LLC now owns 28,577 shares of the medical equipment provider’s stock valued at $2,790,000 after acquiring an additional 11,847 shares in the last quarter. Finally, Bank of Nova Scotia increased its holdings in Boston Scientific by 106.4% during the 2nd quarter. Bank of Nova Scotia now owns 3,025,519 shares of the medical equipment provider’s stock worth $324,971,000 after acquiring an additional 1,559,605 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BSX shares. Canaccord Genuity Group lowered their price objective on Boston Scientific from $132.00 to $131.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Evercore ISI set a $112.00 price target on Boston Scientific in a report on Monday, January 5th. Citigroup reissued a “buy” rating on shares of Boston Scientific in a report on Wednesday, January 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Boston Scientific in a research report on Wednesday, January 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $112.00 target price on shares of Boston Scientific in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $123.89.

Boston Scientific Stock Performance

NYSE BSX opened at $93.63 on Wednesday. The company has a 50-day simple moving average of $95.42 and a two-hundred day simple moving average of $99.69. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a 12-month low of $85.98 and a 12-month high of $109.50. The firm has a market cap of $138.81 billion, a price-to-earnings ratio of 50.07, a PEG ratio of 1.70 and a beta of 0.67.

Insider Activity

In related news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Monday, December 1st. The shares were sold at an average price of $101.55, for a total value of $1,758,135.15. Following the transaction, the executive vice president directly owned 23,600 shares of the company’s stock, valued at $2,396,580. The trade was a 42.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ellen M. Zane sold 12,891 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the completion of the sale, the director directly owned 24,134 shares in the company, valued at approximately $2,371,889.52. This trade represents a 34.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 80,204 shares of company stock valued at $7,998,563. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.