Boston Scientific Co. (NYSE:BSX) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its holdings in Boston Scientific Co. (NYSE:BSX) by 6.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,901,480 shares of the medical equipment provider’s stock after selling 335,299 shares during the period. Bank of Montreal Can owned 0.33% of Boston Scientific worth $408,538,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BSX. Truvestments Capital LLC acquired a new position in Boston Scientific during the 3rd quarter worth about $49,000. Boston Family Office LLC boosted its stake in shares of Boston Scientific by 3.0% in the third quarter. Boston Family Office LLC now owns 8,694 shares of the medical equipment provider’s stock valued at $729,000 after purchasing an additional 250 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Boston Scientific by 17.0% in the third quarter. Fisher Asset Management LLC now owns 4,771,935 shares of the medical equipment provider’s stock valued at $399,888,000 after purchasing an additional 694,585 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Boston Scientific by 8.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 197,333 shares of the medical equipment provider’s stock worth $16,537,000 after buying an additional 15,866 shares in the last quarter. Finally, Hartford Funds Management Co LLC boosted its holdings in Boston Scientific by 3.1% in the third quarter. Hartford Funds Management Co LLC now owns 6,123 shares of the medical equipment provider’s stock valued at $513,000 after purchasing an additional 186 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

Boston Scientific stock traded down $1.42 during midday trading on Monday, reaching $88.58. 709,349 shares of the stock traded hands, compared to its average volume of 6,054,440. Boston Scientific Co. has a fifty-two week low of $53.93 and a fifty-two week high of $91.93. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The firm has a market cap of $130.55 billion, a price-to-earnings ratio of 74.38, a PEG ratio of 2.65 and a beta of 0.79. The firm has a fifty day moving average price of $85.99 and a two-hundred day moving average price of $80.22.

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

Insider Buying and Selling

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. The trade was a 45.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The trade was a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 314,147 shares of company stock worth $26,643,598. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

BSX has been the subject of a number of analyst reports. Citigroup boosted their price objective on Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Bank of America raised their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Barclays lifted their price target on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Raymond James boosted their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus upped their price target on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

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.