JARISLOWSKY FRASER Ltd Cuts Stake in Boston Scientific Co. (NYSE:BSX)

JARISLOWSKY FRASER Ltd decreased its stake in Boston Scientific Co. (NYSE:BSX) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,519,272 shares of the medical equipment provider’s stock after selling 249,994 shares during the period. JARISLOWSKY FRASER Ltd owned approximately 0.17% of Boston Scientific worth $222,755,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Norges Bank acquired a new stake in Boston Scientific in the fourth quarter valued at approximately $1,762,522,000. Capital World Investors grew its holdings in Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares in the last quarter. Wellington Management Group LLP grew its holdings in Boston Scientific by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after purchasing an additional 3,344,571 shares in the last quarter. Axiom Investors LLC DE lifted its holdings in Boston Scientific by 208.2% in the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock worth $335,167,000 after buying an additional 2,535,007 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Boston Scientific by 18.0% in the 4th quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider’s stock valued at $1,303,681,000 after buying an additional 2,221,790 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Barclays lifted their target price on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. BTIG Research restated a “buy” rating and issued a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, April 23rd. Wells Fargo & Company increased their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Erste Group Bank raised shares of Boston Scientific to a “strong-buy” rating in a research report on Thursday. Finally, Raymond James increased their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. Twenty-three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $114.52.

Insider Buying and Selling

In related news, SVP Vance R. Brown sold 4,826 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares of the company’s stock, valued at approximately $3,441,592.37. This trade represents a 11.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 12,000 shares of Boston Scientific stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total value of $1,265,760.00. Following the transaction, the director now owns 24,398 shares in the company, valued at $2,573,501.04. This represents a 32.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 300,497 shares of company stock worth $31,056,815. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $102.87 on Friday. The stock has a market cap of $152.19 billion, a price-to-earnings ratio of 82.30, a PEG ratio of 2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a 12 month low of $71.88 and a 12 month high of $107.17. The stock’s 50 day moving average price is $98.68 and its 200 day moving average price is $95.99.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The company’s revenue was up 20.9% on a year-over-year basis. Equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Boston Scientific 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.