Boston Scientific Co. (NYSE:BSX) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 839.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,756 shares of the medical equipment provider's stock after buying an additional 195,461 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Boston Scientific were worth $18,332,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BSX. BDF Gestion purchased a new position in shares of Boston Scientific in the 2nd quarter worth $3,570,000. LRI Investments LLC purchased a new position in Boston Scientific in the first quarter worth about $139,000. Cetera Advisor Networks LLC increased its stake in Boston Scientific by 11.8% during the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider's stock worth $13,796,000 after acquiring an additional 21,252 shares during the last quarter. Brookstone Capital Management raised its position in Boston Scientific by 389.1% during the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider's stock valued at $5,414,000 after purchasing an additional 55,645 shares during the period. Finally, HWG Holdings LP bought a new stake in shares of Boston Scientific in the 2nd quarter valued at approximately $482,000. Institutional investors own 89.07% of the company's stock.

Insider Transactions at Boston Scientific

In related 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 value of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares of the company's stock, valued at approximately $13,639,695. This trade represents a 45.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock valued at $26,196,718 over the last 90 days. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on Boston Scientific from $73.00 to $78.00 and gave the company a "hold" rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Truist Financial raised their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Canaccord Genuity Group increased their price objective on Boston Scientific from $88.00 to $98.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Finally, Barclays lifted their target price on Boston Scientific from $78.00 to $86.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $93.39.

Boston Scientific Stock Performance

Shares of BSX stock traded up $0.88 during mid-day trading on Thursday, reaching $91.05. The stock had a trading volume of 598,316 shares, compared to its average volume of 6,064,312. The business's fifty day moving average is $85.71 and its 200-day moving average is $79.92. The firm has a market cap of $134.19 billion, a price-to-earnings ratio of 74.52, a PEG ratio of 2.66 and a beta of 0.79. Boston Scientific Co. has a 1-year low of $53.93 and a 1-year high of $91.18. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

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

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.