Cigna Investments Inc. New Lowers Stake in Boston Scientific Co. (NYSE:BSX)

Cigna Investments Inc. New reduced its holdings in shares of Boston Scientific Co. (NYSE:BSXGet Rating) by 26.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 18,345 shares of the medical equipment provider’s stock after selling 6,641 shares during the period. Cigna Investments Inc. New’s holdings in Boston Scientific were worth $684,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC purchased a new position in Boston Scientific during the 2nd quarter worth $27,000. Crewe Advisors LLC acquired a new stake in shares of Boston Scientific in the 2nd quarter worth $27,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Boston Scientific in the 1st quarter worth $34,000. Acadian Asset Management LLC acquired a new stake in shares of Boston Scientific in the 1st quarter worth $35,000. Finally, TCI Wealth Advisors Inc. lifted its stake in shares of Boston Scientific by 98.8% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 857 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 426 shares during the period. 90.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on BSX. Barclays began coverage on shares of Boston Scientific in a research note on Monday, October 17th. They issued an “overweight” rating and a $49.00 target price for the company. Piper Sandler raised their target price on shares of Boston Scientific from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, September 9th. TheStreet cut shares of Boston Scientific from a “b-” rating to a “c” rating in a research note on Monday, November 28th. Raymond James raised their target price on shares of Boston Scientific from $48.00 to $54.00 in a research note on Thursday. Finally, Morgan Stanley raised their price objective on shares of Boston Scientific from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, October 11th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $48.07.

Insiders Place Their Bets

In other Boston Scientific news, CEO Michael F. Mahoney sold 125,827 shares of Boston Scientific stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $39.34, for a total transaction of $4,950,034.18. Following the completion of the transaction, the chief executive officer now owns 1,767,665 shares in the company, valued at $69,539,941.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Michael F. Mahoney sold 125,827 shares of Boston Scientific stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $39.34, for a total transaction of $4,950,034.18. Following the completion of the sale, the chief executive officer now directly owns 1,767,665 shares in the company, valued at $69,539,941.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nelda J. Connors sold 18,196 shares of Boston Scientific stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $44.47, for a total transaction of $809,176.12. Following the sale, the director now owns 27,246 shares of the company’s stock, valued at $1,211,629.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 307,302 shares of company stock worth $12,606,784. Insiders own 0.71% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX opened at $46.32 on Friday. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 0.49. The stock has a market cap of $66.34 billion, a P/E ratio of 110.29, a PEG ratio of 2.55 and a beta of 0.85. The company has a 50-day moving average of $42.32 and a two-hundred day moving average of $40.52. Boston Scientific Co. has a 12-month low of $34.98 and a 12-month high of $47.49.

Boston Scientific (NYSE:BSXGet Rating) last announced its earnings results on Wednesday, October 26th. The medical equipment provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.14 billion. Boston Scientific had a return on equity of 14.55% and a net margin of 5.19%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. As a group, research analysts predict that Boston Scientific Co. will post 1.73 EPS for the current fiscal year.

About Boston Scientific

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Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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