TCW Group Inc. Lowers Stock Position in Boston Scientific Co. (NYSE:BSX)

TCW Group Inc. cut its position in shares of Boston Scientific Co. (NYSE:BSX) by 8.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,630,995 shares of the medical equipment provider’s stock after selling 147,999 shares during the quarter. Boston Scientific makes up about 1.2% of TCW Group Inc.’s holdings, making the stock its 20th biggest position. TCW Group Inc. owned approximately 0.11% of Boston Scientific worth $136,677,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after purchasing an additional 173,034 shares during the last quarter. Brookstone Capital Management grew its position in Boston Scientific by 389.1% during the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after buying an additional 55,645 shares during the period. HWG Holdings LP bought a new position in Boston Scientific during the second quarter valued at about $482,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Boston Scientific by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock worth $289,675,000 after buying an additional 30,636 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in Boston Scientific by 153.5% in the third quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock worth $16,541,000 after acquiring an additional 119,525 shares during the period. 89.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BSX has been the subject of several research analyst reports. Citigroup raised their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Morgan Stanley raised their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Sanford C. Bernstein boosted their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their price target on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Raymond James boosted their price objective on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.52.

Boston Scientific Trading Up 1.7 %

Shares of BSX stock opened at $90.23 on Wednesday. The company has a market capitalization of $132.98 billion, a PE ratio of 74.57, a price-to-earnings-growth ratio of 2.65 and a beta of 0.80. Boston Scientific Co. has a 52-week low of $54.86 and a 52-week high of $91.93. The business’s fifty day moving average is $87.50 and its 200 day moving average is $81.44. 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.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This represents a 16.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 328,157 shares of company stock worth $27,957,676 over the last three months. 0.50% of the stock is owned by 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.