Cibc World Markets Corp Acquires 32,774 Shares of Boston Scientific Co. (NYSE:BSX)

Cibc World Markets Corp lifted its holdings in Boston Scientific Co. (NYSE:BSX) by 5.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 632,519 shares of the medical equipment provider’s stock after purchasing an additional 32,774 shares during the period. Cibc World Markets Corp’s holdings in Boston Scientific were worth $56,497,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares in the last quarter. Mechanics Bank Trust Department bought a new stake in Boston Scientific during the fourth quarter worth about $415,000. Highland Capital Management LLC acquired a new position in Boston Scientific during the fourth quarter valued at approximately $4,887,000. Covenant Asset Management LLC bought a new position in Boston Scientific in the fourth quarter valued at approximately $3,405,000. Finally, Brookstone Capital Management grew its stake in Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after purchasing an additional 20,307 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. UBS Group increased their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Morgan Stanley increased their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Piper Sandler boosted their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. Finally, Argus set a $130.00 price target on Boston Scientific in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $108.91.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $97.26 on Monday. The stock has a market capitalization of $143.53 billion, a PE ratio of 77.81, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a fifty-two week low of $66.16 and a fifty-two week high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The business has a fifty day moving average price of $101.05 and a two-hundred day moving average price of $91.84.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data 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 net margin of 11.07% and a return on equity of 17.80%. As a group, equities analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other news, CFO Daniel J. Brennan sold 15,087 shares of Boston Scientific stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total value of $1,585,191.09. Following the transaction, the chief financial officer now owns 241,451 shares in the company, valued at approximately $25,369,256.57. This trade represents a 5.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the sale, the executive vice president now owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,302 shares of company stock valued at $14,319,269 over the last three months. 0.50% of the stock is owned by insiders.

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.