iA Global Asset Management Inc. Acquires 31,717 Shares of Boston Scientific Corporation $BSX

iA Global Asset Management Inc. increased its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 18.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 203,924 shares of the medical equipment provider’s stock after purchasing an additional 31,717 shares during the quarter. iA Global Asset Management Inc.’s holdings in Boston Scientific were worth $19,909,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Boston Scientific by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 137,134,110 shares of the medical equipment provider’s stock valued at $14,729,575,000 after acquiring an additional 2,545,381 shares in the last quarter. State Street Corp boosted its position in Boston Scientific by 1.1% during the second quarter. State Street Corp now owns 65,191,864 shares of the medical equipment provider’s stock valued at $7,002,258,000 after purchasing an additional 713,379 shares during the last quarter. Geode Capital Management LLC grew its stake in Boston Scientific by 2.0% in the second quarter. Geode Capital Management LLC now owns 32,424,982 shares of the medical equipment provider’s stock valued at $3,466,320,000 after purchasing an additional 622,602 shares in the last quarter. Norges Bank acquired a new position in shares of Boston Scientific during the 2nd quarter worth approximately $2,089,937,000. Finally, Invesco Ltd. raised its stake in shares of Boston Scientific by 1.4% during the 2nd quarter. Invesco Ltd. now owns 16,851,518 shares of the medical equipment provider’s stock worth $1,810,022,000 after purchasing an additional 226,578 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Down 0.4%

Shares of BSX opened at $91.32 on Friday. The firm has a market cap of $135.38 billion, a P/E ratio of 48.83, a price-to-earnings-growth ratio of 1.62 and a beta of 0.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.51. Boston Scientific Corporation has a 52 week low of $85.98 and a 52 week high of $109.50. The firm’s 50-day simple moving average is $95.90 and its 200 day simple moving average is $99.95.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The business’s revenue was up 20.3% on a year-over-year basis. On average, analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Truist Financial lowered their target price on shares of Boston Scientific from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. UBS Group reissued a “buy” rating on shares of Boston Scientific in a research report on Wednesday, December 17th. Oppenheimer dropped their target price on shares of Boston Scientific from $125.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, January 16th. Morgan Stanley raised their target price on shares of Boston Scientific from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Finally, TD Cowen reissued a “buy” rating on shares of Boston Scientific in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $123.89.

Insider Buying and Selling

In other news, Director Ellen M. Zane sold 12,891 shares of Boston Scientific stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the completion of the sale, the director owned 24,134 shares of the company’s stock, valued at approximately $2,371,889.52. This trade represents a 34.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the completion of the sale, the executive vice president directly owned 178,342 shares of the company’s stock, valued at approximately $17,739,678.74. The trade was a 21.90% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 93,095 shares of company stock valued at $9,305,450. Insiders own 0.50% of the company’s stock.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.