Mutual of America Capital Management LLC Sells 4,068 Shares of Boston Scientific Co. (NYSE:BSX)

Mutual of America Capital Management LLC decreased its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,744 shares of the medical equipment provider’s stock after selling 4,068 shares during the period. Mutual of America Capital Management LLC’s holdings in Boston Scientific were worth $15,230,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Kingsview Wealth Management LLC increased its stake in Boston Scientific by 4.1% during the 1st quarter. Kingsview Wealth Management LLC now owns 5,570 shares of the medical equipment provider’s stock valued at $381,000 after purchasing an additional 219 shares in the last quarter. Blair William & Co. IL increased its position in shares of Boston Scientific by 9.3% during the first quarter. Blair William & Co. IL now owns 18,312 shares of the medical equipment provider’s stock worth $1,254,000 after acquiring an additional 1,560 shares in the last quarter. Nwam LLC acquired a new stake in shares of Boston Scientific in the 1st quarter worth about $229,000. First Foundation Advisors bought a new position in Boston Scientific in the 1st quarter valued at about $25,000. Finally, Nicolet Advisory Services LLC boosted its stake in Boston Scientific by 4.8% during the 1st quarter. Nicolet Advisory Services LLC now owns 3,629 shares of the medical equipment provider’s stock valued at $249,000 after purchasing an additional 165 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Price Performance

BSX opened at $86.99 on Friday. The company has a market capitalization of $128.21 billion, a price-to-earnings ratio of 71.89, a PEG ratio of 2.61 and a beta of 0.79. The firm has a 50-day moving average price of $85.26 and a 200-day moving average price of $79.54. Boston Scientific Co. has a twelve month low of $53.56 and a twelve month high of $89.30. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Equities analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BSX shares. Truist Financial upped their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Evercore ISI increased their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Mizuho boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen lifted their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada boosted their target price on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $93.39.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This represents a 16.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 309,270 shares of company stock worth $26,196,718. 0.50% of the stock is currently owned by corporate insiders.

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.