DSM Capital Partners LLC Sells 1,162,600 Shares of Boston Scientific Co. (NYSE:BSX)

DSM Capital Partners LLC trimmed its stake in Boston Scientific Co. (NYSE:BSX) by 31.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,489,945 shares of the medical equipment provider’s stock after selling 1,162,600 shares during the quarter. Boston Scientific accounts for 2.2% of DSM Capital Partners LLC’s portfolio, making the stock its 17th biggest holding. DSM Capital Partners LLC owned about 0.17% of Boston Scientific worth $134,681,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Boston Scientific by 88,436.6% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 270,919,289 shares of the medical equipment provider’s stock valued at $14,654,024,000 after purchasing an additional 270,613,292 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Boston Scientific by 112,306.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,661,660 shares of the medical equipment provider’s stock valued at $863,475,000 after purchasing an additional 18,645,058 shares in the last quarter. Norges Bank bought a new position in shares of Boston Scientific during the fourth quarter valued at $632,520,000. Bank of Montreal Can bought a new position in shares of Boston Scientific during the second quarter valued at $229,787,000. Finally, Steadfast Capital Management LP bought a new position in shares of Boston Scientific during the fourth quarter valued at $138,969,000. 89.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BSX shares. Robert W. Baird increased their target price on Boston Scientific from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. BTIG Research increased their target price on Boston Scientific from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, September 21st. StockNews.com started coverage on Boston Scientific in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Canaccord Genuity Group increased their target price on Boston Scientific from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, September 21st. Finally, UBS Group increased their target price on Boston Scientific from $63.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, September 21st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.55.

Insider Buying and Selling

In related news, CEO Michael F. Mahoney sold 113,356 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $52.51, for a total transaction of $5,952,323.56. Following the completion of the sale, the chief executive officer now owns 1,498,922 shares in the company, valued at $78,708,394.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boston Scientific news, CEO Michael F. Mahoney sold 113,356 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $52.51, for a total transaction of $5,952,323.56. Following the completion of the transaction, the chief executive officer now owns 1,498,922 shares in the company, valued at approximately $78,708,394.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey B. Mirviss sold 13,971 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $53.14, for a total value of $742,418.94. Following the transaction, the executive vice president now owns 65,245 shares of the company’s stock, valued at approximately $3,467,119.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 408,996 shares of company stock worth $21,589,497. 0.71% of the stock is owned by corporate insiders.

Boston Scientific Price Performance

Shares of NYSE:BSX traded up $0.27 during trading on Tuesday, hitting $54.73. 818,048 shares of the company’s stock were exchanged, compared to its average volume of 8,111,832. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.42 and a quick ratio of 0.90. Boston Scientific Co. has a 52-week low of $42.73 and a 52-week high of $55.38. The business’s 50-day simple moving average is $52.11 and its 200 day simple moving average is $52.33. The company has a market cap of $80.18 billion, a price-to-earnings ratio of 66.41, a PEG ratio of 2.14 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. Boston Scientific had a return on equity of 15.46% and a net margin of 8.93%. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter last year, the business posted $0.43 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. As a group, equities analysts predict that Boston Scientific Co. will post 2.01 EPS for the current year.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.