Metis Global Partners LLC Cuts Holdings in Boston Scientific Co. (NYSE:BSX)

Metis Global Partners LLC lowered its position in Boston Scientific Co. (NYSE:BSX) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,946 shares of the medical equipment provider’s stock after selling 4,344 shares during the quarter. Metis Global Partners LLC’s holdings in Boston Scientific were worth $3,292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in Boston Scientific by 6.8% during the 3rd quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after purchasing an additional 8,045,263 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Boston Scientific by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 123,768,348 shares of the medical equipment provider’s stock valued at $6,534,969,000 after acquiring an additional 1,525,432 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Boston Scientific by 5.9% during the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock valued at $2,221,641,000 after acquiring an additional 2,336,348 shares in the last quarter. Morgan Stanley increased its holdings in Boston Scientific by 2.3% in the 3rd quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock valued at $1,119,378,000 after purchasing an additional 481,891 shares in the last quarter. Finally, Invesco Ltd. raised its position in Boston Scientific by 1.4% in the third quarter. Invesco Ltd. now owns 14,862,018 shares of the medical equipment provider’s stock valued at $784,715,000 after purchasing an additional 211,732 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

BSX stock traded down $0.30 during trading on Monday, hitting $72.55. The company had a trading volume of 4,915,164 shares, compared to its average volume of 6,641,584. The firm has a market capitalization of $106.44 billion, a price-to-earnings ratio of 60.97, a P/E/G ratio of 2.51 and a beta of 0.77. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average of $68.42 and a 200 day moving average of $61.42. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $74.39.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BSX shares. Citigroup upped their target price on Boston Scientific from $79.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Oppenheimer raised their price target on shares of Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a report on Thursday, February 1st. Argus boosted their price objective on shares of Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Royal Bank of Canada lifted their target price on Boston Scientific from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, TD Cowen increased their target price on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.09.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Boston Scientific news, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,620,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The disclosure for this sale can be found here. Insiders have sold 78,384 shares of company stock worth $5,395,560 over the last quarter. 0.50% of the stock is currently owned by company 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.