Boston Scientific Co. (NYSE:BSX) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 242,485 shares of the medical equipment provider’s stock after purchasing an additional 10,181 shares during the quarter. CIBC Asset Management Inc’s holdings in Boston Scientific were worth $21,659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. State Street Corp lifted its position in Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after purchasing an additional 1,389,172 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Boston Scientific by 2.2% during the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after buying an additional 718,515 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Boston Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after buying an additional 480,729 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Boston Scientific by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after buying an additional 64,720 shares in the last quarter. Finally, Impax Asset Management Group plc increased its position in Boston Scientific by 17.5% in the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after acquiring an additional 815,403 shares during the period. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $106.20 on Tuesday. Boston Scientific Co. has a 12 month low of $65.33 and a 12 month high of $107.17. The company has a market cap of $156.51 billion, a P/E ratio of 84.96, a P/E/G ratio of 2.79 and a beta of 0.80. The business’s 50 day moving average is $96.44 and its two-hundred day moving average is $88.39. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) 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 18.11%. On average, equities analysts expect that Boston Scientific Co. will post 2.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BSX shares. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research report on Thursday, February 6th. Citigroup raised their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Barclays upped their target price on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. UBS Group boosted their price objective on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, TD Cowen raised their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Buy” and a consensus target price of $107.39.

Insider Buying and Selling at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 6,389 shares of Boston Scientific stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $105.06, for a total value of $671,228.34. Following the sale, the executive vice president now directly owns 24,293 shares in the company, valued at $2,552,222.58. The trade was a 20.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,326 shares of company stock valued at $8,673,948 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

About Boston Scientific

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.