Bank of Nova Scotia Boosts Holdings in Boston Scientific Co. (NYSE:BSX)

Bank of Nova Scotia raised its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 15.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 384,977 shares of the medical equipment provider's stock after buying an additional 50,654 shares during the quarter. Bank of Nova Scotia's holdings in Boston Scientific were worth $34,398,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BSX. Kovitz Investment Group Partners LLC bought a new position in Boston Scientific in the third quarter valued at about $1,635,000. MML Investors Services LLC increased its position in Boston Scientific by 4.4% during the 3rd quarter. MML Investors Services LLC now owns 88,808 shares of the medical equipment provider's stock worth $7,442,000 after purchasing an additional 3,771 shares in the last quarter. M&T Bank Corp lifted its stake in Boston Scientific by 0.3% in the 3rd quarter. M&T Bank Corp now owns 106,127 shares of the medical equipment provider's stock valued at $8,894,000 after purchasing an additional 370 shares during the last quarter. Vestcor Inc boosted its position in Boston Scientific by 40.4% in the third quarter. Vestcor Inc now owns 40,323 shares of the medical equipment provider's stock valued at $3,379,000 after buying an additional 11,600 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in shares of Boston Scientific by 9.4% during the third quarter. Coldstream Capital Management Inc. now owns 27,326 shares of the medical equipment provider's stock worth $2,301,000 after buying an additional 2,346 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BSX. Citigroup boosted their price objective on Boston Scientific from $107.00 to $122.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Royal Bank of Canada upped their price objective on Boston Scientific from $105.00 to $116.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Piper Sandler lifted their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Boston Scientific in a research note on Monday, March 3rd. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $109.04.

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the sale, the executive vice president now owns 5,502 shares in the company, valued at $560,103.60. This represents a 75.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Daniel J. Brennan sold 15,087 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the transaction, the chief financial officer now directly owns 241,451 shares in the company, valued at $25,369,256.57. The trade was a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,183 shares of company stock valued at $13,948,476 over the last 90 days. Insiders own 0.50% of the company's stock.

Boston Scientific Stock Up 0.1 %

Shares of BSX traded up $0.06 during trading hours on Tuesday, reaching $94.33. The stock had a trading volume of 2,049,096 shares, compared to its average volume of 7,838,005. The firm has a 50-day simple moving average of $100.32 and a 200 day simple moving average of $94.18. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $139.52 billion, a price-to-earnings ratio of 75.46, a P/E/G ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal 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.