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

Tobam decreased its position in Boston Scientific Co. (NYSE:BSXFree Report) by 6.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,634 shares of the medical equipment provider’s stock after selling 631 shares during the period. Tobam’s holdings in Boston Scientific were worth $591,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of BSX. Glenmede Trust Co. NA raised its holdings in Boston Scientific by 12.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock valued at $551,000 after acquiring an additional 1,123 shares during the period. Axxcess Wealth Management LLC bought a new position in shares of Boston Scientific in the third quarter worth $201,000. Lido Advisors LLC increased its holdings in shares of Boston Scientific by 38.2% in the third quarter. Lido Advisors LLC now owns 13,266 shares of the medical equipment provider’s stock worth $700,000 after purchasing an additional 3,669 shares during the period. Royal London Asset Management Ltd. increased its holdings in shares of Boston Scientific by 6.1% in the third quarter. Royal London Asset Management Ltd. now owns 572,962 shares of the medical equipment provider’s stock worth $30,258,000 after purchasing an additional 33,133 shares during the period. Finally, Royal Bank of Canada increased its holdings in shares of Boston Scientific by 15.9% in the third quarter. Royal Bank of Canada now owns 3,671,939 shares of the medical equipment provider’s stock worth $193,878,000 after purchasing an additional 504,357 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price target on shares of Boston Scientific in a report on Tuesday, June 18th. Citigroup upped their price target on shares of Boston Scientific from $85.00 to $87.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Argus increased their target price on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft increased their target price on Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Finally, UBS Group upped their price target on shares of Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $78.14.

Check Out Our Latest Report on BSX

Insider Buying and Selling at Boston Scientific

In related news, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,620,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value of $1,055,588.74. Following the sale, the executive vice president now owns 20,197 shares in the company, valued at $1,521,641.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,620,617. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,259 shares of company stock valued at $5,344,014. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Down 0.1 %

Shares of NYSE BSX traded down $0.11 on Monday, reaching $76.29. 101,836 shares of the company’s stock traded hands, compared to its average volume of 6,182,134. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $77.99. The business’s 50 day simple moving average is $75.35 and its two-hundred day simple moving average is $68.40. The company has a market cap of $111.93 billion, a price-to-earnings ratio of 64.20, a price-to-earnings-growth ratio of 2.63 and a beta of 0.78. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSXGet Free Report) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. As a group, equities research analysts forecast that Boston Scientific Co. will post 2.32 EPS for the current fiscal year.

Boston Scientific Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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