BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 24.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 381,063 shares of the medical equipment provider's stock after selling 124,685 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Boston Scientific were worth $34,037,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the business. Parnassus Investments LLC increased its stake in Boston Scientific by 0.7% during the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock worth $1,327,000 after acquiring an additional 97 shares during the period. Baldwin Investment Management LLC increased its position in shares of Boston Scientific by 1.2% in the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock worth $781,000 after purchasing an additional 102 shares during the period. Evergreen Capital Management LLC increased its position in shares of Boston Scientific by 1.7% in the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock worth $565,000 after purchasing an additional 106 shares during the period. PDS Planning Inc raised its stake in Boston Scientific by 1.5% in the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock valued at $668,000 after purchasing an additional 113 shares in the last quarter. Finally, Adero Partners LLC lifted its position in Boston Scientific by 3.3% during the fourth 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 period. 89.07% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently commented on BSX. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Robert W. Baird boosted their price objective on shares of Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Stifel Nicolaus raised their target price on Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Needham & Company LLC lifted their price target on Boston Scientific from $113.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, Barclays upped their price objective on Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Twenty-three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $114.74.
Read Our Latest Stock Report on Boston Scientific
Boston Scientific Stock Performance
Shares of BSX stock opened at $106.52 on Wednesday. The stock has a market capitalization of $157.59 billion, a PE ratio of 85.22, a PEG ratio of 2.79 and a beta of 0.68. The business's 50 day simple moving average is $99.61 and its 200 day simple moving average is $96.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a one year low of $71.88 and a one year high of $107.17.
Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the previous year, the company earned $0.56 EPS. The company's revenue for the quarter was up 20.9% on a year-over-year basis. As a group, research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.
Insider Transactions at Boston Scientific
In related news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the sale, the chief executive officer now directly owns 1,535,706 shares in the company, valued at approximately $157,379,150.88. This trade represents a 9.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 195,830 shares of company stock valued at $20,043,415 over the last ninety days. 0.50% of the stock is owned by company insiders.
About Boston Scientific
(
Free Report)
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.
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