Intact Investment Management Inc. Sells 3,950 Shares of Boston Scientific Co. (NYSE:BSX)

Intact Investment Management Inc. decreased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 44.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,900 shares of the medical equipment provider’s stock after selling 3,950 shares during the period. Intact Investment Management Inc.’s holdings in Boston Scientific were worth $438,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of BSX. TFC Financial Management Inc. boosted its holdings in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 210 shares during the period. Dunhill Financial LLC boosted its holdings in shares of Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares during the period. Global Wealth Strategies & Associates boosted its holdings in shares of Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares during the period. West Oak Capital LLC bought a new stake in shares of Boston Scientific during the 4th quarter worth about $29,000. Finally, Valley National Advisers Inc. boosted its holdings in shares of Boston Scientific by 262.4% during the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 286 shares during the period. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 2.0 %

BSX opened at $97.26 on Friday. Boston Scientific Co. has a fifty-two week low of $66.16 and a fifty-two week high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The firm has a market capitalization of $143.53 billion, a price-to-earnings ratio of 77.81, a PEG ratio of 2.79 and a beta of 0.77. The company’s 50 day moving average price is $101.05 and its two-hundred day moving average price is $91.76.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This represents a 75.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the sale, the executive vice president now directly owns 28,454 shares in the company, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,302 shares of company stock valued at $14,319,269 in the last ninety days. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BSX shares. Citigroup lifted their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Royal Bank of Canada lifted their price objective on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. TD Cowen lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Piper Sandler lifted their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Barclays lifted their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $108.91.

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.