Diamond Hill Capital Management Inc. Sells 81,317 Shares of Boston Scientific Corporation (NYSE:BSX)

Diamond Hill Capital Management Inc. cut its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 17.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 392,379 shares of the medical equipment provider's stock after selling 81,317 shares during the period. Diamond Hill Capital Management Inc.'s holdings in Boston Scientific were worth $39,583,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Boston Scientific during the 4th quarter worth approximately $1,762,522,000. Capital World Investors increased its position 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 period. Wellington Management Group LLP lifted its holdings in shares of Boston Scientific by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after buying an additional 3,344,571 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Boston Scientific by 11,720.3% in the first quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider's stock valued at $260,057,000 after acquiring an additional 2,556,078 shares during the period. Finally, Axiom Investors LLC DE grew its stake in shares of Boston Scientific by 208.2% in the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider's stock valued at $335,167,000 after acquiring an additional 2,535,007 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Boston Scientific Trading Down 1.5%

NYSE BSX traded down $1.58 during trading hours on Thursday, reaching $106.18. The company's stock had a trading volume of 10,261,534 shares, compared to its average volume of 7,588,135. The firm has a fifty day simple moving average of $103.58 and a 200-day simple moving average of $101.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $108.94. The stock has a market cap of $157.09 billion, a P/E ratio of 63.20, a P/E/G ratio of 3.06 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The firm had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The company's revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 EPS. Equities analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on BSX. Jefferies Financial Group reaffirmed a "hold" rating on shares of Boston Scientific in a research report on Monday. BTIG Research reaffirmed a "buy" rating and set a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. UBS Group lifted their price target on shares of Boston Scientific from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Thursday. Leerink Partnrs raised shares of Boston Scientific to a "strong-buy" rating in a research report on Monday, June 16th. Finally, Raymond James Financial increased their price target on shares of Boston Scientific from $121.00 to $124.00 and gave the stock a "strong-buy" rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $117.50.

Insider Buying and Selling

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the completion of the transaction, the chief executive officer owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. This trade represents a 10.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the completion of the transaction, the executive vice president owned 178,342 shares in the company, valued at $18,347,824.96. This trade represents a 24.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 457,144 shares of company stock valued at $47,296,288 in the last quarter. 0.50% of the stock is currently owned by company insiders.

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.