Cibc World Markets Corp Has $56.50 Million Position in Boston Scientific Co. (NYSE:BSX)

Cibc World Markets Corp increased its holdings in Boston Scientific Co. (NYSE:BSX) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of 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 worth $5,266,522,000 after buying an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP raised its stake in 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 worth $2,750,385,000 after acquiring an additional 718,515 shares in the last quarter. Geode Capital Management LLC raised its stake in 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 acquiring an additional 480,729 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Boston Scientific by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,475,031 shares of the medical equipment provider’s stock valued at $756,990,000 after acquiring an additional 456,654 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of Boston Scientific by 21.6% in the 4th quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider’s stock worth $518,138,000 after purchasing an additional 1,028,977 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Stifel Nicolaus boosted their target price on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Monday, March 3rd. Barclays lifted their price objective on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Raymond James increased their target price on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $108.91.

Insider Activity at Boston Scientific

In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the sale, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the completion of the transaction, the chief financial officer now directly owns 225,808 shares in the company, valued at approximately $23,764,033.92. The trade was a 22.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,302 shares of company stock worth $14,319,269 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 2.0 %

NYSE:BSX opened at $97.26 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 1-year low of $66.16 and a 1-year high of $107.17. The firm has a market capitalization of $143.53 billion, a price-to-earnings ratio of 77.81, a PEG ratio of 2.79 and a beta of 0.77. The business’s 50-day moving average price is $101.05 and its two-hundred day moving average price is $91.84.

Boston Scientific (NYSE:BSX) last released 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%. On average, equities analysts expect that Boston Scientific Co. will post 2.85 earnings per share 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.