Financiere des Professionnels Fonds d investissement inc. Sells 17,574 Shares of Boston Scientific Corporation (NYSE:BSX)

Financiere des Professionnels Fonds d investissement inc. reduced its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,811 shares of the medical equipment provider's stock after selling 17,574 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in Boston Scientific were worth $6,437,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Colonial Trust Co SC increased its holdings in Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 260 shares in the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of Boston Scientific during the fourth quarter worth $25,000. Sunbeam Capital Management LLC acquired a new position in Boston Scientific in the fourth quarter valued at approximately $26,000. Ameriflex Group Inc. acquired a new stake in shares of Boston Scientific during the 4th quarter worth approximately $31,000. Finally, Fairway Wealth LLC bought a new stake in shares of Boston Scientific in the 4th quarter valued at $36,000. Institutional investors own 89.07% of the company's stock.

Boston Scientific Trading Down 0.3%

Shares of Boston Scientific stock traded down $0.34 during trading on Monday, reaching $103.98. The company's stock had a trading volume of 1,312,562 shares, compared to its average volume of 6,645,181. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The company has a market cap of $153.84 billion, a price-to-earnings ratio of 75.95, a PEG ratio of 2.71 and a beta of 0.68. The firm's 50-day moving average is $103.42 and its two-hundred day moving average is $100.22. Boston Scientific Corporation has a 52-week low of $71.88 and a 52-week high of $107.53.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The business had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. During the same quarter in the previous year, the business posted $0.56 earnings per share. The firm's revenue for the quarter was up 20.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BSX. Needham & Company LLC reaffirmed a "buy" rating and set a $115.00 price target on shares of Boston Scientific in a research note on Wednesday, May 28th. Barclays increased their target price on Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Leerink Partnrs upgraded shares of Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Truist Financial raised their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Twenty-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $116.09.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 17,314 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the transaction, the executive vice president directly owned 22,235 shares of the company's stock, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction that occurred 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 owned 36,193 shares in the company, valued at approximately $3,441,592.37. This trade represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 461,970 shares of company stock worth $47,755,193 in the last 90 days. Insiders own 0.50% of the company's stock.

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.