Boston Scientific Co. (NYSE:BSX) Shares Acquired by Investment Management Corp of Ontario

Investment Management Corp of Ontario raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 21.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,166 shares of the medical equipment provider’s stock after purchasing an additional 16,000 shares during the quarter. Investment Management Corp of Ontario’s holdings in Boston Scientific were worth $7,724,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific in the 2nd quarter valued at $26,000. Values First Advisors Inc. acquired a new position in shares of Boston Scientific in the third quarter valued at about $28,000. Andra AP fonden purchased a new stake in Boston Scientific in the 2nd quarter valued at about $29,000. Lynx Investment Advisory purchased a new position in shares of Boston Scientific in the 2nd quarter valued at about $30,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Boston Scientific in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BSX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. TD Cowen raised their price objective on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company upped their target price on shares of Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Royal Bank of Canada upped their price target on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, BTIG Research lifted their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Trading Down 0.3 %

Shares of BSX opened at $90.43 on Tuesday. The stock’s fifty day simple moving average is $86.70 and its 200 day simple moving average is $80.80. The firm has a market capitalization of $133.28 billion, a P/E ratio of 74.74, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.93. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion for 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%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS. On average, equities research analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. The trade was a 16.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific 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 transaction, 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 321,174 shares of company stock valued at $27,323,759 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

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.