Tobam Cuts Position in Boston Scientific Co. (NYSE:BSX)

Tobam decreased its position in Boston Scientific Co. (NYSE:BSX) by 71.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,191 shares of the medical equipment provider’s stock after selling 2,974 shares during the quarter. Tobam’s holdings in Boston Scientific were worth $120,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Boston Scientific by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after purchasing an additional 1,600,062 shares in the last quarter. Wellington Management Group LLP increased its holdings in Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after buying an additional 3,344,571 shares during the last quarter. Geode Capital Management LLC raised its stake in Boston Scientific by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock valued at $2,729,371,000 after buying an additional 1,041,329 shares in the last quarter. Capital World Investors lifted its holdings in Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock worth $2,492,041,000 after buying an additional 6,216,199 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Boston Scientific by 2.5% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider’s stock worth $1,992,994,000 after buying an additional 554,388 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the transaction, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the transaction, the chief executive officer now directly owns 1,535,706 shares of the company’s stock, valued at approximately $157,379,150.88. This trade represents a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 411,970 shares of company stock worth $42,406,693. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BSX. Barclays raised their target price on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Erste Group Bank raised shares of Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Robert W. Baird upped their target price on shares of Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Finally, Argus set a $130.00 target price on shares of Boston Scientific in a research report on Tuesday, February 18th. Twenty-one investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $116.00.

Boston Scientific Stock Up 1.1%

BSX opened at $99.60 on Friday. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The business has a 50 day moving average price of $101.03 and a two-hundred day moving average price of $98.68. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company has a market cap of $147.35 billion, a PE ratio of 79.68, a P/E/G ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the prior year, the business earned $0.56 earnings per share. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, research analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current year.

Boston Scientific 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.