Connor Clark & Lunn Investment Management Ltd. Boosts Position in Boston Scientific Co. (NYSE:BSX)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 839.1% in the third quarter, Holdings Channel.com reports. The fund owned 218,756 shares of the medical equipment provider’s stock after purchasing an additional 195,461 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Boston Scientific were worth $18,332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BDF Gestion purchased a new position in shares of Boston Scientific during the second quarter valued at about $3,570,000. LRI Investments LLC purchased a new position in shares of Boston Scientific during the 1st quarter worth approximately $139,000. Cetera Advisor Networks LLC raised its position in shares of Boston Scientific by 11.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock worth $13,796,000 after acquiring an additional 21,252 shares in the last quarter. Brookstone Capital Management lifted its stake in shares of Boston Scientific by 389.1% in the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after purchasing an additional 55,645 shares during the period. Finally, HWG Holdings LP bought a new stake in shares of Boston Scientific during the second quarter valued at approximately $482,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $13,639,695. This trade represents a 45.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 309,270 shares of company stock worth $26,196,718. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on BSX shares. Raymond James boosted their target price on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. TD Cowen boosted their price objective on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Canaccord Genuity Group boosted their price target on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Morgan Stanley raised their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $90.17 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $132.90 billion, a PE ratio of 74.52, a price-to-earnings-growth ratio of 2.56 and a beta of 0.79. The firm’s 50 day moving average price is $85.71 and its 200-day moving average price is $79.92. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.08.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period last year, the firm earned $0.50 earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis. Equities research analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

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.