Connor Clark & Lunn Investment Management Ltd. Has $18.33 Million Stake in Boston Scientific Co. (NYSE:BSX)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 839.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 218,756 shares of the medical equipment provider’s stock after buying an additional 195,461 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Boston Scientific were worth $18,332,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific in the second quarter worth approximately $26,000. Values First Advisors Inc. bought a new position in Boston Scientific during the 3rd quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Boston Scientific in the 3rd quarter worth approximately $30,000. Capital Performance Advisors LLP bought a new stake in shares of Boston Scientific in the 3rd quarter valued at $30,000. Finally, Andra AP fonden acquired a new stake in shares of Boston Scientific during the second quarter worth $29,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This represents a 45.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This represents a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock valued at $26,196,718 in the last quarter. Insiders own 0.50% of the company’s stock.

Boston Scientific Trading Down 0.2 %

Shares of BSX stock opened at $90.17 on Thursday. The company has a market capitalization of $132.90 billion, a PE ratio of 74.52, a price-to-earnings-growth ratio of 2.56 and a beta of 0.79. Boston Scientific Co. has a 52-week low of $53.93 and a 52-week high of $91.08. The business’s fifty day moving average is $85.71 and its 200 day moving average is $79.92. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

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

Wall Street Analyst Weigh In

BSX has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price objective on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Canaccord Genuity Group boosted their price target on Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Morgan Stanley raised their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. TD Cowen boosted their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Four equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

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.