TD Asset Management Inc Boosts Stake in Boston Scientific Co. (NYSE:BSX)

TD Asset Management Inc raised its position in Boston Scientific Co. (NYSE:BSXFree Report) by 10.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,615,932 shares of the medical equipment provider’s stock after purchasing an additional 155,565 shares during the quarter. TD Asset Management Inc’s holdings in Boston Scientific were worth $93,417,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new position in Boston Scientific in the 4th quarter worth about $28,000. Sachetta LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at approximately $32,000. Frazier Financial Advisors LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at approximately $32,000. Motco boosted its stake in shares of Boston Scientific by 136.3% during the third quarter. Motco now owns 645 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 372 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in Boston Scientific by 58.0% in the fourth quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock valued at $34,000 after acquiring an additional 215 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Evercore ISI raised their target price on shares of Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Royal Bank of Canada raised their price target on shares of Boston Scientific from $78.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. The Goldman Sachs Group started coverage on shares of Boston Scientific in a report on Thursday. They set a “buy” rating and a $90.00 target price for the company. UBS Group raised their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Needham & Company LLC raised their target price on shares of Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $76.70.

Check Out Our Latest Report on Boston Scientific

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $66.35, for a total transaction of $463,322.05. Following the transaction, the executive vice president now directly owns 53,788 shares of the company’s stock, valued at $3,568,833.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Boston Scientific news, EVP Arthur C. Butcher sold 14,011 shares of Boston Scientific stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the transaction, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $66.35, for a total transaction of $463,322.05. Following the completion of the sale, the executive vice president now directly owns 53,788 shares in the company, valued at $3,568,833.80. The disclosure for this sale can be found here. Insiders have sold 81,627 shares of company stock valued at $5,874,645 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

BSX opened at $74.97 on Thursday. The firm has a market capitalization of $109.99 billion, a PE ratio of 63.00, a PEG ratio of 2.59 and a beta of 0.77. Boston Scientific Co. has a twelve month low of $48.35 and a twelve month high of $76.25. The firm’s 50-day moving average price is $71.07 and its 200 day moving average price is $64.27. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSXGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.68 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.32 EPS for the current fiscal year.

About Boston Scientific

(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.

Further Reading

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

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