Mackenzie Financial Corp Grows Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Mackenzie Financial Corp boosted its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 35.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 953,375 shares of the medical equipment provider's stock after purchasing an additional 249,435 shares during the period. Mackenzie Financial Corp owned about 0.06% of Boston Scientific worth $85,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BSX. Norges Bank bought a new position in Boston Scientific in the 4th quarter valued at approximately $1,762,522,000. Capital World Investors raised its stake in shares of Boston Scientific by 28.7% during the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after acquiring an additional 6,216,199 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Boston Scientific by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after purchasing an additional 3,344,571 shares during the period. Axiom Investors LLC DE grew its stake in shares of Boston Scientific by 208.2% in the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider's stock worth $335,167,000 after purchasing an additional 2,535,007 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Boston Scientific by 18.0% in the fourth quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider's stock valued at $1,303,681,000 after purchasing an additional 2,221,790 shares during the period. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Royal Bank of Canada lifted their target price on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Stifel Nicolaus lifted their price objective on Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Needham & Company LLC reiterated a "buy" rating and issued a $115.00 target price on shares of Boston Scientific in a report on Wednesday. Finally, Barclays upped their target price on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Twenty-three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $114.87.

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,572 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the transaction, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. This represents a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the sale, the chief executive officer now owns 1,535,706 shares in the company, valued at approximately $157,379,150.88. The trade was a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,155 shares of company stock valued at $19,556,047 over the last ninety days. Corporate insiders own 0.50% of the company's stock.

Boston Scientific Stock Down 1.6%

Shares of BSX traded down $1.65 during trading hours on Wednesday, reaching $104.52. 6,364,220 shares of the stock traded hands, compared to its average volume of 6,404,512. 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 stock has a fifty day simple moving average of $100.14 and a 200 day simple moving average of $97.61. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a market cap of $154.63 billion, a price-to-earnings ratio of 83.62, a PEG ratio of 2.79 and a beta of 0.68.

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 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 company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period last year, the firm earned $0.56 earnings per share. The firm's revenue was up 20.9% on a year-over-year basis. On average, equities analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current year.

Boston Scientific Company 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.