Boston Scientific Co. (NYSE:BSX) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,442,036 shares of the medical equipment provider’s stock after selling 455,167 shares during the quarter. Canada Pension Plan Investment Board owned 0.51% of Boston Scientific worth $573,111,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC raised its holdings in shares of Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. First Foundation Advisors acquired a new stake in shares of Boston Scientific in the 1st quarter valued at $25,000. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific in the 2nd quarter valued at $26,000. Andra AP fonden acquired a new stake in shares of Boston Scientific in the 2nd quarter valued at $29,000. Finally, RiverPark Advisors LLC acquired a new stake in shares of Boston Scientific in the 1st quarter valued at $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BSX shares. TD Cowen raised their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. The Goldman Sachs Group began coverage on shares of Boston Scientific in a research note on Thursday, May 30th. They set a “buy” rating and a $90.00 price target on the stock. Raymond James lifted their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. Truist Financial lifted their price target on shares of Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Argus lifted their price target on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $85.38.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the sale, the executive vice president now owns 42,908 shares of the company’s stock, valued at $3,316,788.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 20,949 shares of company stock valued at $1,627,877 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 1.4 %

Shares of NYSE:BSX opened at $83.71 on Friday. The company has a market cap of $122.81 billion, a price-to-earnings ratio of 70.34, a PEG ratio of 2.75 and a beta of 0.79. The firm’s 50-day simple moving average is $78.59 and its 200-day simple moving average is $74.51. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $84.89.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. As a group, equities research analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current year.

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.