Financiere des Professionnels Fonds d investissement inc. Has $6.44 Million Stock Holdings in Boston Scientific Corporation (NYSE:BSX)

Financiere des Professionnels Fonds d investissement inc. lessened its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 21.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 63,811 shares of the medical equipment provider’s stock after selling 17,574 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in Boston Scientific were worth $6,437,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BSX. Norges Bank acquired a new position in shares of Boston Scientific during the 4th quarter worth about $1,762,522,000. Capital World Investors raised its holdings in Boston Scientific by 28.7% in 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 acquiring an additional 6,216,199 shares in the last quarter. Wellington Management Group LLP raised its holdings in Boston Scientific by 10.2% in 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 acquiring an additional 3,344,571 shares in the last quarter. GAMMA Investing LLC raised its holdings in Boston Scientific by 11,720.3% in the 1st quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider’s stock valued at $260,057,000 after acquiring an additional 2,556,078 shares in the last quarter. Finally, Axiom Investors LLC DE raised 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 valued at $335,167,000 after acquiring an additional 2,535,007 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $106.97, for a total value of $5,348,500.00. Following the sale, the executive vice president owned 178,342 shares of the company’s stock, valued at $19,077,243.74. This trade represents a 21.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the sale, the executive vice president directly owned 22,235 shares in the company, valued at $2,269,304.10. This represents a 43.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 461,970 shares of company stock worth $47,755,193 in the last three months. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Evercore ISI increased their target price on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Robert W. Baird increased their target price on Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Needham & Company LLC reissued a “buy” rating and issued a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Finally, Erste Group Bank raised Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Twenty-two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Buy” and a consensus target price of $116.09.

Boston Scientific Stock Up 0.6%

Shares of BSX opened at $104.30 on Friday. The firm has a market capitalization of $154.30 billion, a price-to-earnings ratio of 76.13, a PEG ratio of 2.71 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The business’s fifty day moving average price is $103.42 and its two-hundred day moving average price is $100.14. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $107.53.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 EPS. On average, analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

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.