Hillsdale Investment Management Inc. Takes $759,000 Position in Boston Scientific Co. (NYSE:BSX)

Hillsdale Investment Management Inc. acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 8,500 shares of the medical equipment provider’s stock, valued at approximately $759,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Boston Scientific in the fourth quarter worth $190,780,000. State Street Corp increased its holdings in Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after buying an additional 1,389,172 shares during the period. Fisher Funds Management LTD acquired a new position in shares of Boston Scientific in the 4th quarter valued at approximately $94,710,000. Fisher Asset Management LLC lifted its holdings in shares of Boston Scientific by 21.6% during the 4th quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider’s stock worth $518,138,000 after acquiring an additional 1,028,977 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Boston Scientific by 26.0% during the 4th quarter. American Century Companies Inc. now owns 4,488,823 shares of the medical equipment provider’s stock worth $400,942,000 after acquiring an additional 925,268 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

BSX stock opened at $100.66 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $101.68 and its 200 day simple moving average is $92.50. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17. The firm has a market cap of $148.89 billion, a price-to-earnings ratio of 80.53, a PEG ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. On average, analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Activity

In other news, EVP John Bradley Sorenson sold 1,201 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the sale, the executive vice president now directly owns 25,443 shares in the company, valued at $2,704,845.33. This trade represents a 4.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Daniel J. Brennan sold 67,333 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total value of $7,086,124.92. Following the transaction, the chief financial officer now directly owns 225,808 shares in the company, valued at approximately $23,764,033.92. This trade represents a 22.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock worth $14,319,269 in the last quarter. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Piper Sandler upped their target price on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research note on Friday, January 10th. Canaccord Genuity Group boosted their target price on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Stifel Nicolaus upped their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

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.