TD Asset Management Inc. increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 46.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,650,250 shares of the medical equipment provider’s stock after buying an additional 1,161,994 shares during the quarter. TD Asset Management Inc. owned 0.26% of Boston Scientific worth $140,534,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Sei Investments Co. boosted its position in Boston Scientific by 7.8% during the second quarter. Sei Investments Co. now owns 3,853,853 shares of the medical equipment provider’s stock valued at $126,021,000 after purchasing an additional 278,777 shares during the last quarter. Waddell & Reed Financial Inc. acquired a new position in Boston Scientific during the second quarter valued at approximately $5,559,000. Cubist Systematic Strategies LLC boosted its position in Boston Scientific by 3.1% during the second quarter. Cubist Systematic Strategies LLC now owns 51,105 shares of the medical equipment provider’s stock valued at $1,671,000 after purchasing an additional 1,547 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Boston Scientific by 2.0% during the second quarter. Public Employees Retirement System of Ohio now owns 965,855 shares of the medical equipment provider’s stock valued at $31,583,000 after purchasing an additional 19,383 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Boston Scientific by 63.6% during the second quarter. Nisa Investment Advisors LLC now owns 319,940 shares of the medical equipment provider’s stock valued at $10,462,000 after purchasing an additional 124,350 shares during the last quarter. Institutional investors and hedge funds own 91.24% of the company’s stock.
Several research analysts recently commented on the company. Argus increased their price target on Boston Scientific from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, October 26th. Canaccord Genuity increased their price target on Boston Scientific from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, October 25th. Oppenheimer set a $38.00 price target on Boston Scientific and gave the company a “hold” rating in a research report on Wednesday, October 24th. BTIG Research reissued a “buy” rating and set a $45.00 price target on shares of Boston Scientific in a research report on Thursday, October 25th. Finally, Cowen set a $42.00 price target on Boston Scientific and gave the company a “buy” rating in a research report on Monday, October 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $39.00.
BSX opened at $36.81 on Monday. Boston Scientific Co. has a 12-month low of $24.54 and a 12-month high of $39.44. The company has a market capitalization of $50.94 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 2.42 and a beta of 0.68. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.58.
Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 24th. The medical equipment provider reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Boston Scientific had a return on equity of 26.44% and a net margin of 6.93%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the firm posted $0.31 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts anticipate that Boston Scientific Co. will post 1.39 earnings per share for the current fiscal year.
In other news, EVP Kevin J. Ballinger sold 37,430 shares of the stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $38.00, for a total transaction of $1,422,340.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Michael F. Mahoney sold 116,666 shares of the stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $35.88, for a total value of $4,185,976.08. Following the transaction, the chairman now owns 2,023,104 shares in the company, valued at approximately $72,588,971.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 412,500 shares of company stock valued at $15,292,977. Insiders own 0.73% of the company’s stock.
About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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