Canada Pension Plan Investment Board Reduces Holdings in Boston Scientific Co. (NYSE:BSX)

Canada Pension Plan Investment Board decreased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,288,948 shares of the medical equipment provider’s stock after selling 200,271 shares during the period. Canada Pension Plan Investment Board owned approximately 0.49% of Boston Scientific worth $651,049,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Commonwealth Financial Corp PA purchased a new position in shares of Boston Scientific during the 4th quarter worth approximately $221,000. Marshall Wace LLP raised its holdings in Boston Scientific by 7.6% in the fourth quarter. Marshall Wace LLP now owns 8,865,843 shares of the medical equipment provider’s stock worth $791,897,000 after purchasing an additional 625,324 shares in the last quarter. NewEdge Advisors LLC lifted its position in Boston Scientific by 6.5% during the fourth quarter. NewEdge Advisors LLC now owns 88,895 shares of the medical equipment provider’s stock valued at $7,940,000 after buying an additional 5,416 shares during the period. Main Street Financial Solutions LLC boosted its holdings in shares of Boston Scientific by 50.7% during the 4th quarter. Main Street Financial Solutions LLC now owns 4,433 shares of the medical equipment provider’s stock valued at $396,000 after buying an additional 1,492 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its position in shares of Boston Scientific by 1.7% in the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 6,528 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $104.97, for a total transaction of $685,244.16. Following the sale, the executive vice president now directly owns 26,449 shares in the company, valued at $2,776,351.53. This trade represents a 19.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at $560,103.60. This represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,183 shares of company stock valued at $13,948,476 over the last quarter. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Stock Up 1.1 %

Shares of BSX stock opened at $95.28 on Thursday. 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 12 month low of $66.80 and a 12 month high of $107.17. The stock has a market cap of $140.93 billion, a P/E ratio of 76.22, a P/E/G ratio of 2.79 and a beta of 0.73. The company has a 50 day simple moving average of $99.90 and a two-hundred day simple moving average of $94.18.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate 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, research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on BSX shares. Raymond James boosted their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research note on Friday, January 10th. Needham & Company LLC upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a research note on Wednesday. Morgan Stanley increased their target price on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lifted their price target on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $110.22.

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.