Boston Scientific Co. (NYSE:BSX) Stock Position Lessened by Primecap Management Co. CA

Primecap Management Co. CA lessened its stake in shares of Boston Scientific Co. (NYSE:BSX) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,929,666 shares of the medical equipment provider’s stock after selling 896,834 shares during the period. Boston Scientific makes up about 2.6% of Primecap Management Co. CA’s portfolio, making the stock its 5th biggest position. Primecap Management Co. CA’s holdings in Boston Scientific were worth $3,298,558,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Parnassus Investments LLC grew its position in Boston Scientific by 0.7% during the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock worth $1,327,000 after purchasing an additional 97 shares during the last quarter. Adero Partners LLC lifted its stake in Boston Scientific by 3.3% during the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock valued at $334,000 after acquiring an additional 120 shares during the period. Grove Bank & Trust lifted its stake in Boston Scientific by 4.4% during the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock valued at $261,000 after acquiring an additional 122 shares during the period. PFG Investments LLC lifted its stake in Boston Scientific by 1.6% during the 4th quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock valued at $725,000 after acquiring an additional 125 shares during the period. Finally, Stonegate Investment Group LLC lifted its stake in Boston Scientific by 1.6% during the 4th quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock valued at $699,000 after acquiring an additional 126 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $99.02 on Tuesday. The firm has a market cap of $146.14 billion, a PE ratio of 79.22, a PEG ratio of 2.79 and a beta of 0.77. The firm has a fifty day moving average of $101.21 and a 200 day moving average of $91.97. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a one year low of $66.16 and a one year high of $107.17.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the sale, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at $2,966,329.50. This represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock valued at $14,319,269 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on BSX shares. Morgan Stanley lifted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company lifted their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Friday, January 10th. Canaccord Genuity Group lifted their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $108.91.

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.