BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stock Holdings in Boston Scientific Co. (NYSE:BSX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in Boston Scientific Co. (NYSE:BSX) by 10.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 505,748 shares of the medical equipment provider’s stock after selling 58,440 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Boston Scientific were worth $42,382,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after purchasing an additional 173,034 shares during the period. BDF Gestion purchased a new position in shares of Boston Scientific during the second quarter worth about $3,570,000. Cetera Advisor Networks LLC increased its position in shares of Boston Scientific by 11.8% in the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock worth $13,796,000 after purchasing an additional 21,252 shares during the last quarter. Brookstone Capital Management raised its stake in Boston Scientific by 389.1% in the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after purchasing an additional 55,645 shares in the last quarter. Finally, HWG Holdings LP bought a new stake in Boston Scientific during the second quarter valued at approximately $482,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the sale, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 328,157 shares of company stock valued at $27,894,270 over the last three months. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Wednesday. Bank of America lifted their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus increased their price objective on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Mizuho boosted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Citigroup upped their target price on Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Price Performance

BSX opened at $90.66 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The stock has a market capitalization of $133.62 billion, a PE ratio of 74.93, a price-to-earnings-growth ratio of 2.67 and a beta of 0.79. The stock’s 50 day moving average price is $86.70 and its 200-day moving average price is $80.71. Boston Scientific Co. has a 52-week low of $53.93 and a 52-week high of $91.93.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the previous year, the firm earned $0.50 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts predict that Boston Scientific Co. will post 2.46 EPS for the current year.

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.