EDENTREE ASSET MANAGEMENT Ltd Reduces Stock Holdings in Boston Scientific Co. (NYSE:BSX)

EDENTREE ASSET MANAGEMENT Ltd trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 10.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 120,300 shares of the medical equipment provider’s stock after selling 14,242 shares during the period. Boston Scientific comprises approximately 2.9% of EDENTREE ASSET MANAGEMENT Ltd’s investment portfolio, making the stock its 9th biggest position. EDENTREE ASSET MANAGEMENT Ltd’s holdings in Boston Scientific were worth $9,267,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BSX. Precision Wealth Strategies LLC acquired a new position in shares of Boston Scientific in the 4th quarter worth $956,000. Aveo Capital Partners LLC increased its stake in Boston Scientific by 1.3% in the 4th quarter. Aveo Capital Partners LLC now owns 12,841 shares of the medical equipment provider’s stock worth $742,000 after purchasing an additional 171 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Boston Scientific by 6.0% during the 4th quarter. D.A. Davidson & CO. now owns 9,380 shares of the medical equipment provider’s stock worth $542,000 after buying an additional 529 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Boston Scientific by 19.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 25,379 shares of the medical equipment provider’s stock valued at $1,467,000 after buying an additional 4,127 shares in the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of Boston Scientific by 10.7% in the fourth quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock worth $93,417,000 after buying an additional 155,565 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 20,949 shares of company stock valued at $1,627,877 in the last 90 days. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BSX. BTIG Research upped their price target on shares of Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. raised their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Citigroup upped their price target on Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Evercore ISI raised their price objective on Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Finally, Robert W. Baird upped their target price on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $86.65.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $83.50 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $78.94 and a 200-day simple moving average of $74.96. The stock has a market capitalization of $122.96 billion, a price-to-earnings ratio of 70.17, a PEG ratio of 2.78 and a beta of 0.79. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $84.89.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 earnings per share. On average, sell-side analysts expect that Boston Scientific Co. will post 2.4 earnings per share 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.