TD Asset Management Inc. Increases Holdings in Boston Scientific Co. (NYSE:BSX)

TD Asset Management Inc. raised its stake in Boston Scientific Co. (NYSE:BSX) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,289,791 shares of the medical equipment provider’s stock after purchasing an additional 46,255 shares during the quarter. TD Asset Management Inc. owned about 0.16% of Boston Scientific worth $204,524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EFG Asset Management North America Corp. grew its stake in shares of Boston Scientific by 9.2% in the fourth quarter. EFG Asset Management North America Corp. now owns 29,930 shares of the medical equipment provider’s stock valued at $2,674,000 after buying an additional 2,527 shares in the last quarter. Modern Wealth Management LLC purchased a new position in Boston Scientific in the 4th quarter worth approximately $269,000. Corebridge Financial Inc. grew its position in Boston Scientific by 7.7% in the fourth quarter. Corebridge Financial Inc. now owns 440,953 shares of the medical equipment provider’s stock valued at $39,386,000 after acquiring an additional 31,551 shares in the last quarter. Congress Wealth Management LLC DE raised its stake in shares of Boston Scientific by 6.0% during the fourth quarter. Congress Wealth Management LLC DE now owns 235,387 shares of the medical equipment provider’s stock valued at $21,025,000 after purchasing an additional 13,293 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Boston Scientific by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock worth $11,869,805,000 after purchasing an additional 1,600,062 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX stock opened at $103.09 on Wednesday. The company has a market cap of $152.48 billion, a P/E ratio of 82.47, a PEG ratio of 2.79 and a beta of 0.77. The business has a 50 day moving average of $101.99 and a two-hundred day moving average of $92.80. Boston Scientific Co. has a 52 week low of $66.80 and a 52 week high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BSX. Citigroup raised their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Raymond James raised their target price on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research note on Friday, January 10th. TD Cowen raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and an average target price of $108.91.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the sale, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the transaction, the executive vice president now owns 28,454 shares of the company’s stock, valued at $2,966,329.50. This represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,302 shares of company stock worth $14,319,269. Insiders own 0.50% of the company’s stock.

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.