CANADA LIFE ASSURANCE Co Decreases Stake in Boston Scientific Co. (NYSE:BSX)

CANADA LIFE ASSURANCE Co trimmed its position in Boston Scientific Co. (NYSE:BSX) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,778,962 shares of the medical equipment provider’s stock after selling 11,410 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Boston Scientific were worth $158,821,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. M&T Bank Corp raised its position in shares of Boston Scientific by 0.3% during the 3rd quarter. M&T Bank Corp now owns 106,127 shares of the medical equipment provider’s stock worth $8,894,000 after acquiring an additional 370 shares in the last quarter. Passumpsic Savings Bank acquired a new position in shares of Boston Scientific in the 3rd quarter valued at $3,015,000. World Investment Advisors LLC raised its stake in Boston Scientific by 50.9% during the 3rd quarter. World Investment Advisors LLC now owns 11,684 shares of the medical equipment provider’s stock worth $979,000 after acquiring an additional 3,939 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Boston Scientific during the third quarter worth about $1,175,000. Finally, Tidal Investments LLC increased its position in shares of Boston Scientific by 8.8% during the third quarter. Tidal Investments LLC now owns 86,507 shares of the medical equipment provider’s stock worth $7,249,000 after purchasing an additional 6,990 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BSX has been the subject of several research reports. Citigroup upped their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a research note on Wednesday. Wells Fargo & Company lifted their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Argus set a $130.00 price objective on shares of Boston Scientific in a research report on Tuesday, February 18th. Finally, Piper Sandler increased their target price on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $110.22.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 6,528 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $104.97, for a total transaction of $685,244.16. Following the completion of the transaction, the executive vice president now directly owns 26,449 shares of the company’s stock, valued at $2,776,351.53. This trade represents a 19.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the sale, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,183 shares of company stock valued at $13,948,476 over the last three months. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

Boston Scientific stock opened at $95.28 on Thursday. The company has a market cap of $140.93 billion, a price-to-earnings ratio of 76.22, a PEG ratio of 2.79 and a beta of 0.73. The firm has a 50 day moving average price of $99.90 and a 200 day moving average price of $94.18. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Sell-side analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Boston Scientific Company 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.