Boston Scientific Co. (NYSE:BSX) Stake Lessened by Main Street Research LLC

Main Street Research LLC cut its stake in Boston Scientific Co. (NYSE:BSX) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 352,478 shares of the medical equipment provider’s stock after selling 978 shares during the period. Boston Scientific makes up approximately 2.7% of Main Street Research LLC’s investment portfolio, making the stock its 16th biggest position. Main Street Research LLC’s holdings in Boston Scientific were worth $14,342,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Boston Scientific by 1.6% during the second quarter. Vanguard Group Inc. now owns 106,871,899 shares of the medical equipment provider’s stock valued at $4,593,353,000 after purchasing an additional 1,649,632 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Boston Scientific by 3.1% during the second quarter. Janus Henderson Group PLC now owns 39,252,231 shares of the medical equipment provider’s stock valued at $1,687,034,000 after purchasing an additional 1,162,625 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Boston Scientific by 3.3% during the second quarter. Bank of New York Mellon Corp now owns 17,664,857 shares of the medical equipment provider’s stock valued at $759,236,000 after purchasing an additional 570,230 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Boston Scientific by 28.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 13,748,652 shares of the medical equipment provider’s stock valued at $590,917,000 after purchasing an additional 3,039,311 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Boston Scientific by 43.2% during the second quarter. Invesco Ltd. now owns 12,320,389 shares of the medical equipment provider’s stock valued at $529,530,000 after purchasing an additional 3,714,624 shares during the last quarter. Institutional investors and hedge funds own 91.61% of the company’s stock.

Several analysts recently commented on BSX shares. Morgan Stanley set a $50.00 target price on shares of Boston Scientific and gave the company a “buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. began coverage on shares of Boston Scientific in a research report on Thursday, September 5th. They issued an “overweight” rating for the company. Jefferies Financial Group upped their price target on shares of Boston Scientific from $44.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, June 27th. Barclays restated an “overweight” rating and issued a $48.00 price target on shares of Boston Scientific in a research report on Tuesday, September 3rd. Finally, ValuEngine downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Three 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. The company presently has an average rating of “Buy” and a consensus target price of $45.76.

Shares of NYSE:BSX traded up $0.19 during mid-day trading on Monday, hitting $38.66. The stock had a trading volume of 371,516 shares, compared to its average volume of 8,799,566. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.31. The company has a market cap of $53.17 billion, a PE ratio of 26.32, a P/E/G ratio of 2.28 and a beta of 0.78. Boston Scientific Co. has a 12-month low of $31.56 and a 12-month high of $43.84. The company’s 50 day moving average is $41.08 and its 200-day moving average is $40.30.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.64 billion. Boston Scientific had a net margin of 13.85% and a return on equity of 23.29%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.41 EPS. On average, equities research analysts predict that Boston Scientific Co. will post 1.56 EPS for the current fiscal year.

In other Boston Scientific news, SVP John Bradley Sorenson sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $42.79, for a total value of $256,740.00. Following the transaction, the senior vice president now owns 42,385 shares in the company, valued at approximately $1,813,654.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Daniel J. Brennan sold 20,462 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $39.44, for a total transaction of $807,021.28. Following the completion of the transaction, the chief financial officer now owns 235,422 shares in the company, valued at approximately $9,285,043.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,449 shares of company stock worth $3,790,048. Company insiders own 0.66% of the company’s stock.

Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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