Boston Scientific Co. (NYSE:BSX) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in shares of Boston Scientific Co. (NYSE:BSX) by 35.4% during the 4th quarter, HoldingsChannel reports. The firm owned 953,375 shares of the medical equipment provider’s stock after buying an additional 249,435 shares during the quarter. Mackenzie Financial Corp’s holdings in Boston Scientific were worth $85,155,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Forum Financial Management LP lifted its position in Boston Scientific by 13.8% during the 4th quarter. Forum Financial Management LP now owns 13,336 shares of the medical equipment provider’s stock worth $1,191,000 after acquiring an additional 1,621 shares during the last quarter. Sunbeam Capital Management LLC acquired a new position in shares of Boston Scientific during the fourth quarter valued at about $26,000. Warm Springs Advisors Inc. bought a new stake in Boston Scientific in the fourth quarter valued at about $652,000. GF Fund Management CO. LTD. bought a new stake in Boston Scientific in the fourth quarter valued at about $2,791,000. Finally, Parr Mcknight Wealth Management Group LLC bought a new stake in Boston Scientific in the fourth quarter valued at about $2,139,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the sale, the executive vice president now directly owns 18,705 shares in the company, valued at $1,955,420.70. This represents a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the sale, the chief executive officer now owns 1,535,706 shares of the company’s stock, valued at $157,379,150.88. The trade was a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,830 shares of company stock worth $20,043,415 over the last three months. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on BSX shares. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Piper Sandler increased their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Argus set a $130.00 target price on shares of Boston Scientific in a report on Tuesday, February 18th. Robert W. Baird increased their target price on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, BTIG Research reissued a “buy” rating and set a $124.00 price objective on shares of Boston Scientific in a research report on Wednesday, April 23rd. Twenty-three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Boston Scientific currently has an average rating of “Buy” and a consensus target price of $114.87.

Boston Scientific Trading Down 0.0%

Shares of NYSE:BSX opened at $104.49 on Friday. The company has a market capitalization of $154.59 billion, a P/E ratio of 83.59, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 1 year low of $71.88 and a 1 year 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 business’s 50 day simple moving average is $99.97 and its 200 day simple moving average is $97.37.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping 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 firm had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period in the prior year, the company earned $0.56 earnings per share. The company’s quarterly revenue was up 20.9% on a year-over-year basis. On average, research analysts anticipate that Boston Scientific Co. will post 2.85 EPS 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.