Kornitzer Capital Management Inc. KS Decreases Stock Position in Boston Scientific Co. (NYSE:BSX)

Kornitzer Capital Management Inc. KS decreased its position in shares of Boston Scientific Co. (NYSE:BSX) by 93.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,587 shares of the medical equipment provider’s stock after selling 146,104 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Boston Scientific were worth $887,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital World Investors grew its holdings in Boston Scientific by 69.9% during the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after purchasing an additional 6,588,256 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after buying an additional 3,608,158 shares during the last quarter. Capital Research Global Investors purchased a new stake in shares of Boston Scientific in the first quarter worth approximately $182,897,000. AustralianSuper Pty Ltd lifted its stake in shares of Boston Scientific by 4,292.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after acquiring an additional 2,615,903 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after acquiring an additional 1,988,082 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 1.6 %

NYSE:BSX opened at $88.25 on Friday. The company’s 50-day simple moving average is $84.61 and its 200-day simple moving average is $78.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.48. Boston Scientific Co. has a fifty-two week low of $50.84 and a fifty-two week high of $88.94. The stock has a market capitalization of $130.07 billion, a P/E ratio of 72.93, a P/E/G ratio of 2.50 and a beta of 0.79.

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

Analyst Ratings Changes

A number of analysts have weighed in on BSX shares. Truist Financial increased their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. TD Cowen raised their price target on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Barclays boosted their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Citigroup boosted their price target on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.39.

Insider Transactions at Boston Scientific

In related news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock valued at $26,196,718 in the last quarter. 0.50% of the stock is currently owned by corporate insiders.

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.