Royal Bank of Canada Has $515.91 Million Stake in Boston Scientific Co. (NYSE:BSX)

Royal Bank of Canada increased its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 19.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,775,924 shares of the medical equipment provider's stock after purchasing an additional 938,023 shares during the period. Royal Bank of Canada owned approximately 0.39% of Boston Scientific worth $515,906,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Parnassus Investments LLC raised its position in shares of Boston Scientific by 0.7% during the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock valued at $1,327,000 after buying an additional 97 shares during the last quarter. Baldwin Investment Management LLC raised its position in 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 in the last quarter. Evergreen Capital Management LLC raised its position 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 worth $565,000 after purchasing an additional 106 shares in the last quarter. PDS Planning Inc raised its position 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 worth $668,000 after purchasing an additional 113 shares in the last quarter. Finally, Adero Partners LLC raised its position in Boston Scientific by 3.3% in 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 in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP John Bradley Sorenson sold 4,572 shares of the firm's stock in a transaction 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 sale, the executive vice president now directly owns 18,705 shares in the company, valued at $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the firm's 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 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. Over the last three months, insiders have sold 265,820 shares of company stock worth $27,406,958. Company insiders own 0.50% of the company's stock.

Boston Scientific Trading Up 0.5%

BSX stock traded up $0.57 during midday trading on Monday, reaching $106.61. The company's stock had a trading volume of 7,933,850 shares, compared to its average volume of 6,369,172. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The stock has a market cap of $157.72 billion, a PE ratio of 85.29, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The business's 50-day simple moving average is $99.39 and its 200-day simple moving average is $96.90.

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 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 analysts' expectations of $4.57 billion. During the same period last year, the firm earned $0.56 earnings per share. The business's revenue for the quarter was up 20.9% on a year-over-year basis. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

BSX has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Argus set a $130.00 price objective on shares of Boston Scientific in a report on Tuesday, February 18th. Wells Fargo & Company raised their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. UBS Group raised their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Evercore ISI raised their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Twenty-three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Boston Scientific presently has a consensus rating of "Buy" and a consensus price target of $114.74.

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.