M&T Bank Corp Purchases 5,956 Shares of Boston Scientific Co. (NYSE:BSX)

M&T Bank Corp boosted its position in shares of Boston Scientific Co. (NYSE:BSX) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,083 shares of the medical equipment provider’s stock after acquiring an additional 5,956 shares during the quarter. M&T Bank Corp’s holdings in Boston Scientific were worth $10,011,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Adero Partners LLC increased its stake in shares of Boston Scientific by 3.3% during the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock worth $334,000 after purchasing an additional 120 shares during the last quarter. Grove Bank & Trust increased its position in Boston Scientific by 4.4% during the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after buying an additional 122 shares during the last quarter. PFG Investments LLC raised its stake in Boston Scientific by 1.6% in the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock valued at $725,000 after buying an additional 125 shares during the period. Stonegate Investment Group LLC lifted its position in shares of Boston Scientific by 1.6% in the fourth quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock valued at $699,000 after buying an additional 126 shares during the last quarter. Finally, Ashton Thomas Securities LLC boosted its stake in shares of Boston Scientific by 1.3% during the 3rd quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock worth $835,000 after acquiring an additional 129 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other news, CFO Daniel J. Brennan sold 67,333 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the completion of the transaction, the chief financial officer now owns 225,808 shares of the company’s stock, valued at approximately $23,764,033.92. This represents a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 12,000 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the sale, the director now directly owns 24,398 shares in the company, valued at $2,573,501.04. This trade represents a 32.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,322 shares of company stock valued at $14,321,068 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on BSX. Piper Sandler increased their price target on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Citigroup increased their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Raymond James lifted their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Royal Bank of Canada increased their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Argus set a $130.00 price objective on Boston Scientific in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Buy” and an average price target of $108.91.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $100.72 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The company has a market cap of $148.64 billion, a PE ratio of 80.58, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The company has a 50 day moving average of $100.29 and a 200-day moving average of $90.96. Boston Scientific Co. has a 1-year low of $65.52 and a 1-year high of $107.17.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, equities research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

About Boston Scientific

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.