CIBC Asset Management Inc Has $19.47 Million Holdings in Boston Scientific Co. (NYSE:BSX)

CIBC Asset Management Inc lifted its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 7.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 232,304 shares of the medical equipment provider's stock after acquiring an additional 16,037 shares during the quarter. CIBC Asset Management Inc's holdings in Boston Scientific were worth $19,467,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Capital World Investors raised its holdings in Boston Scientific by 69.9% during the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider's stock worth $1,096,394,000 after purchasing an additional 6,588,256 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider's stock worth $517,544,000 after buying an additional 3,608,158 shares during the last quarter. Capital Research Global Investors acquired a new position in Boston Scientific in the first quarter valued at approximately $182,897,000. AustralianSuper Pty Ltd boosted its stake in Boston Scientific by 4,292.3% in the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider's stock valued at $224,320,000 after acquiring an additional 2,615,903 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Boston Scientific by 30.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider's stock worth $608,349,000 after acquiring an additional 1,824,405 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Ratings Changes

BSX has been the topic of a number of analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Boston Scientific in a research note on Thursday, October 31st. Citigroup increased their target price on Boston Scientific from $92.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. TD Cowen boosted their target price on Boston Scientific from $86.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Bank of America increased their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Finally, Evercore ISI boosted their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $93.39.

Insider Activity at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company's stock, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 309,270 shares of company stock worth $26,196,718. Company insiders own 0.50% of the company's stock.

Boston Scientific Stock Down 0.7 %

BSX traded down $0.60 during trading on Friday, reaching $86.99. 10,230,145 shares of the stock were exchanged, compared to its average volume of 6,083,564. The stock has a market cap of $128.21 billion, a P/E ratio of 71.88, a price-to-earnings-growth ratio of 2.61 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The stock's 50 day moving average price is $85.26 and its two-hundred day moving average price is $79.49. Boston Scientific Co. has a twelve month low of $53.56 and a twelve month high of $89.30.

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

Boston Scientific Company 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.