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

Cibc World Markets Corp boosted its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 632,519 shares of the medical equipment provider's stock after acquiring an additional 32,774 shares during the quarter. Cibc World Markets Corp's holdings in Boston Scientific were worth $56,497,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Boston Scientific during the 4th quarter worth approximately $190,780,000. State Street Corp boosted its stake in 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 valued at $5,266,522,000 after purchasing an additional 1,389,172 shares during the period. Fisher Funds Management LTD acquired a new position in Boston Scientific in the 4th quarter valued at $94,710,000. Fisher Asset Management LLC increased its position in Boston Scientific by 21.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider's stock worth $518,138,000 after acquiring an additional 1,028,977 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of 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 purchasing an additional 718,515 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research firms have recently weighed in on BSX. Piper Sandler upped their target price on Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. TD Cowen increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. UBS Group boosted their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Canaccord Genuity Group increased their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Finally, StockNews.com downgraded shares of Boston Scientific from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific currently has an average rating of "Moderate Buy" and an average target price of $108.91.

Boston Scientific Trading Up 1.9 %

BSX traded up $1.86 during trading on Monday, reaching $99.02. 5,703,033 shares of the company's stock were exchanged, compared to its average volume of 5,721,651. 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 one year low of $66.16 and a one year high of $107.17. The firm has a fifty day moving average price of $101.21 and a two-hundred day moving average price of $91.97. The stock has a market capitalization of $146.14 billion, a PE ratio of 79.22, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.

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 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%. As a group, equities research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

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 sale, the executive vice president now directly owns 5,502 shares of the company's stock, valued at approximately $560,103.60. This represents a 75.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the transaction, the executive vice president now directly owns 25,443 shares of the company's stock, valued at $2,704,845.33. This represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,302 shares of company stock valued at $14,319,269. Company insiders own 0.50% of the company's stock.

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.