Mackenzie Financial Corp Increases Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Mackenzie Financial Corp increased its holdings in Boston Scientific Co. (NYSE:BSX) by 65.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 708,833 shares of the medical equipment provider’s stock after acquiring an additional 279,513 shares during the quarter. Mackenzie Financial Corp’s holdings in Boston Scientific were worth $40,978,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BSW Wealth Partners lifted its stake in Boston Scientific by 2.3% in the fourth quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock worth $428,000 after acquiring an additional 165 shares during the period. Valley National Advisers Inc. lifted its position in Boston Scientific by 2.3% during the fourth quarter. Valley National Advisers Inc. now owns 7,526 shares of the medical equipment provider’s stock valued at $435,000 after buying an additional 170 shares during the period. Whitaker Myers Wealth Managers LTD. lifted its position in Boston Scientific by 4.6% during the fourth quarter. Whitaker Myers Wealth Managers LTD. now owns 4,093 shares of the medical equipment provider’s stock valued at $237,000 after buying an additional 179 shares during the period. Koss Olinger Consulting LLC lifted its position in Boston Scientific by 3.7% during the first quarter. Koss Olinger Consulting LLC now owns 5,322 shares of the medical equipment provider’s stock valued at $266,000 after buying an additional 191 shares during the period. Finally, Brighton Jones LLC lifted its position in Boston Scientific by 5.4% during the third quarter. Brighton Jones LLC now owns 3,999 shares of the medical equipment provider’s stock valued at $211,000 after buying an additional 205 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 1.0 %

Boston Scientific stock opened at $68.11 on Wednesday. The business has a 50-day simple moving average of $67.11 and a two-hundred day simple moving average of $59.63. The company has a market cap of $99.92 billion, a P/E ratio of 63.65, a P/E/G ratio of 2.38 and a beta of 0.78. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $69.21. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same period in the previous year, the company posted $0.45 EPS. Analysts predict that Boston Scientific Co. will post 2.25 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the transaction, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock worth $3,418,529 in the last three months. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Raymond James raised their price objective on Boston Scientific from $67.00 to $73.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 1st. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. Evercore ISI raised their price objective on Boston Scientific from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Argus raised their price target on Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada raised their price target on Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Monday. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.50.

Boston Scientific Company 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.