Hillsdale Investment Management Inc. Invests $759,000 in Boston Scientific Co. (NYSE:BSX)

Hillsdale Investment Management Inc. purchased a new position in Boston Scientific Co. (NYSE:BSX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,500 shares of the medical equipment provider's stock, valued at approximately $759,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parnassus Investments LLC raised its holdings in Boston Scientific by 0.7% in the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock valued at $1,327,000 after acquiring an additional 97 shares during the last quarter. PDS Planning Inc increased its stake in Boston Scientific by 1.5% in the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock valued at $668,000 after purchasing an additional 113 shares during the last quarter. Adero Partners LLC increased its stake in Boston Scientific by 3.3% in the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock valued at $334,000 after purchasing an additional 120 shares during the last quarter. Grove Bank & Trust boosted its stake in Boston Scientific by 4.4% in the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider's stock worth $261,000 after buying an additional 122 shares during the last quarter. Finally, PFG Investments LLC grew its holdings in Boston Scientific by 1.6% in the 4th quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider's stock valued at $725,000 after buying an additional 125 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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Boston Scientific Stock Down 1.6 %

Shares of BSX traded down $1.60 during trading on Thursday, reaching $100.74. The company's stock had a trading volume of 7,610,530 shares, compared to its average volume of 5,807,198. The company has a market cap of $149.01 billion, a price-to-earnings ratio of 80.59, a P/E/G ratio of 2.79 and a beta of 0.77. 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 has a fifty day moving average of $102.10 and a two-hundred day moving average of $92.87. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the transaction, the executive vice president now owns 28,454 shares in the company, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 1,201 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the sale, the executive vice president now directly owns 25,443 shares in the company, valued at approximately $2,704,845.33. This represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,302 shares of company stock worth $14,319,269. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

BSX has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Stifel Nicolaus boosted their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. TD Cowen increased their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Needham & Company LLC reissued a "hold" rating on shares of Boston Scientific in a research report on Monday, March 3rd. Finally, Barclays raised their price objective on Boston Scientific from $111.00 to $118.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $108.91.

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.