Boston Scientific Co. (NYSE:BSX) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 10.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,850 shares of the medical equipment provider’s stock after selling 1,050 shares during the period. Intact Investment Management Inc.’s holdings in Boston Scientific were worth $742,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BSX. CRA Financial Services LLC lifted its position in Boston Scientific by 4.3% in the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 117 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock worth $115,000 after purchasing an additional 119 shares during the period. CVA Family Office LLC lifted its position in Boston Scientific by 7.4% in the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after purchasing an additional 131 shares during the period. Jacobsen Capital Management lifted its position in Boston Scientific by 4.9% in the third quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider’s stock worth $236,000 after purchasing an additional 133 shares during the period. Finally, S.A. Mason LLC lifted its position in Boston Scientific by 6.1% in the third quarter. S.A. Mason LLC now owns 2,335 shares of the medical equipment provider’s stock worth $196,000 after purchasing an additional 135 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Trading Up 1.3 %

Boston Scientific stock opened at $84.72 on Tuesday. The company’s fifty day simple moving average is $84.10 and its 200-day simple moving average is $78.55. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12 month low of $50.84 and a 12 month high of $88.79. The stock has a market cap of $124.76 billion, a P/E ratio of 70.02, a P/E/G ratio of 2.47 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.41%. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 earnings per share. As a group, sell-side analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now directly owns 34,748 shares in the company, valued at approximately $2,913,967.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 309,270 shares of company stock worth $26,196,718. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BSX shares. Wells Fargo & Company upped their target price on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday. Sanford C. Bernstein upped their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Truist Financial upped their price target on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, BTIG Research upped their price target on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $93.39.

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.