Harbor Capital Advisors Inc. trimmed its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 54.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,580 shares of the medical equipment provider's stock after selling 25,443 shares during the period. Harbor Capital Advisors Inc.'s holdings in Boston Scientific were worth $2,177,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Boston Scientific by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock worth $11,869,805,000 after purchasing an additional 1,600,062 shares during the period. Wellington Management Group LLP boosted 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 worth $3,230,293,000 after purchasing an additional 3,344,571 shares during the period. Geode Capital Management LLC boosted its holdings 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 worth $2,729,371,000 after purchasing an additional 1,041,329 shares during the period. Capital World Investors boosted its holdings in Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after purchasing an additional 6,216,199 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Boston Scientific by 2.5% in the fourth 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 purchasing an additional 554,388 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
BSX has been the topic of a number of recent research reports. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Barclays raised their target price on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Argus set a $130.00 target price on Boston Scientific in a research note on Tuesday, February 18th. Citigroup restated a "buy" rating and set a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Finally, Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Twenty-one analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has an average rating of "Buy" and a consensus target price of $116.00.
Get Our Latest Stock Report on BSX
Insiders Place Their Bets
In related news, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the sale, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. This represents a 11.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total value of $5,799,551.36. Following the completion of the transaction, the executive vice president now owns 178,342 shares in the company, valued at approximately $18,347,824.96. The trade was a 24.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 411,970 shares of company stock valued at $42,406,693 in the last 90 days. Corporate insiders own 0.50% of the company's stock.
Boston Scientific Stock Performance
Shares of BSX stock traded up $1.04 during trading on Friday, reaching $99.60. 10,330,779 shares of the company's stock were exchanged, compared to its average volume of 6,574,434. The firm's fifty day moving average price is $101.03 and its 200-day moving average price is $98.74. The stock has a market capitalization of $147.35 billion, a PE ratio of 79.68, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a twelve month low of $71.88 and a twelve month high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.
Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm's quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 EPS. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current year.
Boston Scientific Company Profile
(
Free Report)
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.
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