Bank of Montreal Can Trims Stake in Boston Scientific Co. (NYSE:BSX)

Bank of Montreal Can trimmed its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 51.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,376,680 shares of the medical equipment provider's stock after selling 2,524,800 shares during the quarter. Bank of Montreal Can owned about 0.16% of Boston Scientific worth $212,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in BSX. TFC Financial Management Inc. lifted its stake in Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 210 shares during the period. Global Wealth Strategies & Associates increased its stake in shares of Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. West Oak Capital LLC acquired a new position in shares of Boston Scientific during the 4th quarter valued at $29,000. Dunhill Financial LLC boosted its stake in Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 152 shares in the last quarter. Finally, Valley National Advisers Inc. grew its holdings in Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 286 shares during the period. Institutional investors own 89.07% of the company's stock.

Insider Buying and Selling at Boston Scientific

In other news, CFO Daniel J. Brennan sold 15,087 shares of Boston Scientific stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the transaction, the chief financial officer now owns 241,451 shares in the company, valued at $25,369,256.57. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward J. Ludwig sold 12,000 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the completion of the transaction, the director now owns 24,398 shares of the company's stock, valued at $2,573,501.04. This represents a 32.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,183 shares of company stock valued at $13,948,476. Company insiders own 0.50% of the company's stock.

Boston Scientific Stock Performance

Shares of Boston Scientific stock traded up $1.02 during trading hours on Friday, hitting $93.66. 8,303,541 shares of the company's stock traded hands, compared to its average volume of 6,356,881. The company has a fifty day simple moving average of $100.54 and a 200-day simple moving average of $94.10. 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 stock has a market capitalization of $138.53 billion, a price-to-earnings ratio of 74.93, a PEG ratio of 2.79 and a beta of 0.73. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 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 17.80%. Equities research analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BSX shares. Citigroup upped their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Needham & Company LLC reiterated a "hold" rating on shares of Boston Scientific in a report on Monday, March 3rd. UBS Group raised their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, February 7th. StockNews.com lowered Boston Scientific from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Finally, Piper Sandler lifted their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $109.04.

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.