Boston Scientific Corporation (NYSE:BSX) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its holdings in Boston Scientific Corporation by 5.6%, owning 2,160,924 shares after selling 128,867 shares in the first quarter.
• Boston Scientific CEO Michael F. Mahoney sold 164,443 shares at an average price of $103.69, resulting in a 10.02% decrease in his ownership.
• Analysts have generally positive ratings on Boston Scientific, with 22 buy ratings and price targets as high as $135.00, indicating a strong consensus around the stock's potential.

TD Asset Management Inc decreased its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,160,924 shares of the medical equipment provider's stock after selling 128,867 shares during the period. TD Asset Management Inc owned approximately 0.15% of Boston Scientific worth $217,994,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. HM Payson & Co. raised its position in Boston Scientific by 1.4% in the first quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider's stock valued at $694,000 after purchasing an additional 98 shares during the period. Baldwin Investment Management LLC increased its position in Boston Scientific by 1.2% during the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock worth $781,000 after acquiring an additional 102 shares during the period. Park Square Financial Group LLC lifted its holdings in Boston Scientific by 5.2% during the 1st quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider's stock valued at $208,000 after purchasing an additional 103 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in 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 valued at $565,000 after purchasing an additional 106 shares during the last quarter. Finally, Forum Financial Management LP boosted its holdings in Boston Scientific by 0.8% during the first quarter. Forum Financial Management LP now owns 13,448 shares of the medical equipment provider's stock worth $1,357,000 after purchasing an additional 112 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Trading Down 0.3%

Shares of BSX stock traded down $0.30 during trading hours on Monday, hitting $105.84. 6,624,761 shares of the company were exchanged, compared to its average volume of 7,359,535. The firm has a fifty day moving average of $103.58 and a 200 day moving average of $101.59. Boston Scientific Corporation has a 1 year low of $71.88 and a 1 year high of $108.94. 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 firm has a market cap of $156.58 billion, a PE ratio of 63.00, a PEG ratio of 2.55 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the firm posted $0.62 earnings per share. Boston Scientific's revenue for the quarter was up 22.8% compared to the same quarter last year. Analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Raymond James Financial boosted their target price on Boston Scientific from $121.00 to $124.00 and gave the stock a "strong-buy" rating in a research note on Thursday. Oppenheimer lifted their price target on Boston Scientific from $110.00 to $118.00 and gave the company a "market perform" rating in a research report on Thursday. BTIG Research reiterated a "buy" rating and set a $124.00 price target on shares of Boston Scientific in a research report on Wednesday, April 23rd. Robert W. Baird raised their target price on shares of Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $115.00 price target on shares of Boston Scientific in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific currently has a consensus rating of "Buy" and an average target price of $117.50.

Insider Buying and Selling at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $106.97, for a total transaction of $5,348,500.00. Following the transaction, the executive vice president directly owned 178,342 shares of the company's stock, valued at approximately $19,077,243.74. The trade was a 21.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the sale, the executive vice president directly owned 18,705 shares of the company's stock, valued at $1,955,420.70. This trade represents a 19.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 461,144 shares of company stock worth $47,720,408. 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.