Desjardins Global Asset Management Inc. Increases Stock Position in Boston Scientific Co. (NYSE:BSX)

Desjardins Global Asset Management Inc. raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 42,868 shares of the medical equipment provider’s stock after purchasing an additional 459 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Boston Scientific were worth $2,478,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BSW Wealth Partners increased its holdings in shares of Boston Scientific by 2.3% during the fourth quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock valued at $428,000 after acquiring an additional 165 shares in the last quarter. Valley National Advisers Inc. increased its holdings in Boston Scientific by 2.3% in the 4th quarter. Valley National Advisers Inc. now owns 7,526 shares of the medical equipment provider’s stock worth $435,000 after buying an additional 170 shares in the last quarter. Whitaker Myers Wealth Managers LTD. increased its holdings in Boston Scientific by 4.6% in the 4th quarter. Whitaker Myers Wealth Managers LTD. now owns 4,093 shares of the medical equipment provider’s stock worth $237,000 after buying an additional 179 shares in the last quarter. Koss Olinger Consulting LLC increased its holdings in Boston Scientific by 3.7% in the 1st quarter. Koss Olinger Consulting LLC now owns 5,322 shares of the medical equipment provider’s stock worth $266,000 after buying an additional 191 shares in the last quarter. Finally, Brighton Jones LLC increased its holdings in Boston Scientific by 5.4% in the 3rd quarter. Brighton Jones LLC now owns 3,999 shares of the medical equipment provider’s stock worth $211,000 after buying an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX traded up $1.19 during mid-day trading on Tuesday, hitting $68.63. 4,173,081 shares of the stock were exchanged, compared to its average volume of 6,340,198. The company has a market cap of $100.69 billion, a PE ratio of 63.03, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $69.21. The firm has a 50-day moving average of $67.05 and a two-hundred day moving average of $59.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter in the previous year, the company posted $0.45 EPS. On average, equities analysts predict that Boston Scientific Co. will post 2.25 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the transaction, the chief financial officer now owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the sale, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the sale, the chief financial officer now owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock valued at $3,418,529 in the last quarter. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BSX. Evercore ISI boosted their price target on Boston Scientific from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. boosted their price target on Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Citigroup boosted their price target on Boston Scientific from $71.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. TD Cowen boosted their price target on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Finally, StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.50.

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.