Tobam Reduces Holdings in Boston Scientific Co. (NYSE:BSX)

Tobam decreased its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 71.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,191 shares of the medical equipment provider's stock after selling 2,974 shares during the quarter. Tobam's holdings in Boston Scientific were worth $120,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BSX. Covenant Asset Management LLC purchased a new stake in Boston Scientific during the fourth quarter worth $3,405,000. Bank Pictet & Cie Europe AG raised its stake in shares of Boston Scientific by 40.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock worth $6,529,000 after buying an additional 21,173 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Boston Scientific by 8.4% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 47,284 shares of the medical equipment provider's stock worth $4,223,000 after buying an additional 3,683 shares in the last quarter. Entropy Technologies LP acquired a new stake in Boston Scientific in the 4th quarter valued at about $214,000. Finally, Illinois Municipal Retirement Fund increased its holdings in Boston Scientific by 13.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 184,802 shares of the medical equipment provider's stock valued at $16,507,000 after acquiring an additional 22,504 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insiders Place Their Bets

In related news, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,314 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the sale, the executive vice president now owns 22,235 shares of the company's stock, valued at approximately $2,269,304.10. This represents a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock worth $42,406,693 over the last three months. 0.50% of the stock is owned by insiders.

Boston Scientific Trading Up 1.1%

Boston Scientific stock traded up $1.04 during trading on Friday, reaching $99.60. The company had a trading volume of 10,330,779 shares, compared to its average volume of 6,562,299. Boston Scientific Co. has a 12-month low of $71.88 and a 12-month high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The stock's 50 day moving average price is $101.03 and its two-hundred day moving average price is $98.68. The firm has a market capitalization of $147.35 billion, a price-to-earnings ratio of 79.68, a PEG ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business's quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 EPS. As a group, equities analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on BSX shares. Truist Financial upped their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Royal Bank of Canada upped their target price on Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Evercore ISI boosted their price target on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Robert W. Baird upped their price objective on Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Twenty-one investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $116.00.

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.