iA Global Asset Management Inc. Boosts Stake in Boston Scientific Co. (NYSE:BSX)

iA Global Asset Management Inc. boosted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 169,527 shares of the medical equipment provider’s stock after purchasing an additional 369 shares during the period. iA Global Asset Management Inc.’s holdings in Boston Scientific were worth $14,206,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after buying an additional 173,034 shares in the last quarter. Brookstone Capital Management boosted its position in shares of Boston Scientific by 389.1% in the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock worth $5,414,000 after purchasing an additional 55,645 shares during the period. HWG Holdings LP purchased a new stake in shares of Boston Scientific in the second quarter worth $482,000. PGGM Investments raised its position in shares of Boston Scientific by 9.6% during the 2nd quarter. PGGM Investments now owns 117,794 shares of the medical equipment provider’s stock valued at $9,071,000 after purchasing an additional 10,366 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Boston Scientific by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock valued at $289,675,000 after buying an additional 30,636 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Activity

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 328,157 shares of company stock valued at $27,957,676. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BSX shares. Royal Bank of Canada raised their price target on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus boosted their price target on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Raymond James increased their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Finally, Morgan Stanley raised their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Stock Performance

Boston Scientific stock opened at $90.07 on Friday. Boston Scientific Co. has a 1-year low of $54.52 and a 1-year high of $91.93. The company’s 50-day moving average is $87.27 and its 200 day moving average is $81.16. The firm has a market capitalization of $132.75 billion, a P/E ratio of 74.44, a price-to-earnings-growth ratio of 2.66 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

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

Boston Scientific 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.