Financiere des Professionnels Fonds d investissement inc. Sells 39,361 Shares of Boston Scientific Co. (NYSE:BSX)

Financiere des Professionnels Fonds d investissement inc. reduced its stake in shares of Boston Scientific Co. (NYSE:BSXFree Report) by 22.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,613 shares of the medical equipment provider’s stock after selling 39,361 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in Boston Scientific were worth $9,288,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Boston Scientific by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 125,449,802 shares of the medical equipment provider’s stock worth $7,252,253,000 after purchasing an additional 1,681,454 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Boston Scientific by 5.9% in the third quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after purchasing an additional 2,336,348 shares during the period. Primecap Management Co. CA grew its holdings in Boston Scientific by 1.5% in the 4th quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock valued at $2,191,326,000 after buying an additional 550,490 shares during the last quarter. Morgan Stanley increased its position in Boston Scientific by 2.3% in the 3rd quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock worth $1,119,378,000 after buying an additional 481,891 shares during the period. Finally, Norges Bank acquired a new position in shares of Boston Scientific during the fourth quarter worth approximately $930,626,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BSX. Evercore ISI raised their price objective on shares of Boston Scientific from $72.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Argus raised their price target on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Mizuho lifted their target price on Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Finally, Wells Fargo & Company upped their price target on Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.70.

Check Out Our Latest Analysis on BSX

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the transaction, the executive vice president now owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the transaction, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the sale, the executive vice president now owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,627 shares of company stock valued at $5,937,353. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX stock traded up $0.71 during trading hours on Friday, reaching $77.71. 9,938,194 shares of the company were exchanged, compared to its average volume of 4,647,806. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $77.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The stock’s fifty day moving average is $73.90 and its two-hundred day moving average is $66.75. The company has a market cap of $114.01 billion, a price-to-earnings ratio of 65.30, a P/E/G ratio of 2.72 and a beta of 0.81.

Boston Scientific (NYSE:BSXGet Free Report) last released its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.68 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. Sell-side analysts forecast that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

Boston Scientific Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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