Cibc World Markets Corp Purchases 32,774 Shares of Boston Scientific Co. (NYSE:BSX)

Cibc World Markets Corp lifted its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 5.5% during the fourth quarter, according to the company in 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 quarter. Cibc World Markets Corp's holdings in Boston Scientific were worth $56,497,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider's stock worth $345,205,000 after buying an additional 173,034 shares in the last quarter. Mechanics Bank Trust Department bought a new stake in Boston Scientific during the fourth quarter worth approximately $415,000. Highland Capital Management LLC acquired a new stake in Boston Scientific in the fourth quarter worth approximately $4,887,000. Covenant Asset Management LLC bought a new position in Boston Scientific during the 4th quarter valued at $3,405,000. Finally, Brookstone Capital Management increased its position in shares of Boston Scientific by 23.7% during the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock valued at $9,455,000 after purchasing an additional 20,307 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Activity at Boston Scientific

In other news, CFO Daniel J. Brennan sold 15,087 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total value of $1,585,191.09. Following the transaction, the chief financial officer now owns 241,451 shares of the company's stock, valued at $25,369,256.57. This represents a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward J. Ludwig sold 12,000 shares of Boston Scientific stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total value of $1,265,760.00. Following the sale, the director now directly owns 24,398 shares of the company's stock, valued at approximately $2,573,501.04. This trade represents a 32.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,302 shares of company stock worth $14,319,269 over the last ninety days. Company insiders own 0.50% of the company's stock.

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Analysts Set New Price Targets

BSX has been the subject of several research reports. Stifel Nicolaus raised their target price on Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Truist Financial raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 target price on the stock in a report on Friday, January 10th. Morgan Stanley raised their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Finally, Barclays upped their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $108.91.

Boston Scientific Trading Up 0.4 %

NYSE:BSX traded up $0.42 during trading hours on Tuesday, hitting $99.32. 3,802,663 shares of the stock were exchanged, compared to its average volume of 5,737,668. The company has a market capitalization of $146.58 billion, a P/E ratio of 79.49, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a twelve month low of $66.16 and a twelve month high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company's 50 day moving average is $101.21 and its two-hundred day moving average is $91.97.

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 analysts' consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. On average, sell-side analysts anticipate 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.