TD Asset Management Inc. Raises Stake in Boston Scientific Co. (BSX)
TD Asset Management Inc. lifted its position in Boston Scientific Co. (NYSE:BSX) by 4.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,735,658 shares of the medical equipment provider’s stock after purchasing an additional 148,884 shares during the quarter. TD Asset Management Inc.’s holdings in Boston Scientific were worth $143,374,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of BSX. Norges Bank bought a new stake in shares of Boston Scientific in the fourth quarter worth about $468,943,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Boston Scientific by 7,922.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,978,846 shares of the medical equipment provider’s stock worth $339,000 after purchasing an additional 11,829,528 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Boston Scientific by 164.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,944,961 shares of the medical equipment provider’s stock worth $280,775,000 after purchasing an additional 4,941,897 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Boston Scientific by 3.7% in the fourth quarter. BlackRock Inc. now owns 116,508,996 shares of the medical equipment provider’s stock worth $4,117,428,000 after purchasing an additional 4,195,164 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Boston Scientific by 11.3% in the fourth quarter. Geode Capital Management LLC now owns 16,982,002 shares of the medical equipment provider’s stock worth $599,030,000 after purchasing an additional 1,724,046 shares during the last quarter. 91.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:BSX traded down $0.20 during trading hours on Monday, hitting $37.12. 119,530 shares of the company’s stock traded hands, compared to its average volume of 8,416,154. Boston Scientific Co. has a 1 year low of $29.96 and a 1 year high of $41.00. The firm has a market capitalization of $51.90 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.39 and a quick ratio of 1.12.
Several equities research analysts have recently issued reports on the company. Evercore ISI raised Boston Scientific from an “in-line” rating to an “outperform” rating and set a $36.20 target price on the stock in a report on Monday, May 13th. BTIG Research reaffirmed a “buy” rating on shares of Boston Scientific in a report on Thursday, April 25th. Needham & Company LLC reiterated a “buy” rating and issued a $43.00 price target on shares of Boston Scientific in a research report on Wednesday, February 6th. Canaccord Genuity dropped their price target on Boston Scientific from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $47.00 price target on shares of Boston Scientific in a research report on Friday, February 8th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Boston Scientific has an average rating of “Buy” and a consensus price target of $41.53.
In related news, SVP Arthur C. Butcher sold 15,225 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $39.95, for a total value of $608,238.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xin Warren Wang sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $40.31, for a total value of $403,100.00. The disclosure for this sale can be found here. Insiders sold 275,677 shares of company stock valued at $11,027,956 in the last quarter. 0.66% of the stock is owned by company insiders.
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About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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