Bank of Montreal Can Has $408.54 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

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

Other hedge funds have also recently bought and sold shares of the company. CRA Financial Services LLC boosted its stake in shares of Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after purchasing an additional 117 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 119 shares in the last quarter. Adero Partners LLC grew its stake in Boston Scientific by 3.6% during the third quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock worth $303,000 after buying an additional 127 shares during the last quarter. Ashton Thomas Securities LLC increased its holdings in shares of Boston Scientific by 1.3% during the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock worth $835,000 after buying an additional 129 shares in the last quarter. Finally, CVA Family Office LLC boosted its holdings in shares of Boston Scientific by 7.4% in the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after acquiring an additional 131 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BSX shares. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research report on Monday, November 18th. Evercore ISI increased their price objective on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Sanford C. Bernstein upped their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group upped their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, BTIG Research lifted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded down $1.42 on Monday, reaching $88.58. 709,349 shares of the company’s stock were exchanged, compared to its average volume of 6,054,440. 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 company has a market capitalization 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 company has a fifty day moving average of $85.99 and a 200-day moving average of $80.22. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.93.

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

Insider Activity at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 9.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 314,147 shares of company stock valued at $26,643,598 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

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.