TCW Group Inc. Has $140.01 Million Stock Position in Boston Scientific Corporation (NYSE:BSX)

Key Points

• TCW Group Inc. has reduced its holdings in Boston Scientific Corporation by 10.9%, now owning approximately $140.01 million in shares, making it the firm's 22nd largest investment.
• Several large investors, including Wellington Management and Capital World Investors, have recently increased their positions in Boston Scientific, with 89.07% of the stock currently owned by institutional investors and hedge funds.
• Boston Scientific's stock received multiple price target increases from various analysts, with a consensus rating of "Buy" and an average target price of $117.50.

TCW Group Inc. cut its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 10.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,387,906 shares of the medical equipment provider's stock after selling 170,647 shares during the quarter. Boston Scientific makes up approximately 1.3% of TCW Group Inc.'s holdings, making the stock its 22nd largest holding. TCW Group Inc. owned about 0.09% of Boston Scientific worth $140,012,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BSX. LPL Financial LLC raised its stake in Boston Scientific by 0.4% during the 1st quarter. LPL Financial LLC now owns 1,124,011 shares of the medical equipment provider's stock valued at $113,390,000 after buying an additional 4,994 shares during the last quarter. Alteri Wealth LLC lifted its stake in Boston Scientific by 1.3% in the first quarter. Alteri Wealth LLC now owns 10,074 shares of the medical equipment provider's stock worth $1,016,000 after purchasing an additional 129 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Boston Scientific by 2.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,319,998 shares of the medical equipment provider's stock worth $133,161,000 after purchasing an additional 27,572 shares during the last quarter. Investment Management Corp VA ADV lifted its stake in Boston Scientific by 1,573.8% in the first quarter. Investment Management Corp VA ADV now owns 4,603 shares of the medical equipment provider's stock worth $464,000 after purchasing an additional 4,328 shares during the last quarter. Finally, Empirical Finance LLC raised its stake in shares of Boston Scientific by 1.4% during the first quarter. Empirical Finance LLC now owns 49,721 shares of the medical equipment provider's stock valued at $5,016,000 after acquiring an additional 701 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BSX. Barclays upped their price target on Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Oppenheimer increased their price objective on shares of Boston Scientific from $110.00 to $118.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Citigroup reaffirmed a "buy" rating and set a $125.00 price objective (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Evercore ISI lifted their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Boston Scientific in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Boston Scientific has an average rating of "Buy" and a consensus price target of $117.50.

Boston Scientific Price Performance

Shares of NYSE BSX traded up $0.22 on Wednesday, hitting $106.69. The company's stock had a trading volume of 7,162,278 shares, compared to its average volume of 7,724,656. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. The company has a market capitalization of $157.84 billion, a price-to-earnings ratio of 63.51, a price-to-earnings-growth ratio of 2.55 and a beta of 0.68. The stock has a 50 day moving average of $103.56 and a 200-day moving average of $101.69. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $108.94.

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

Insider Buying and Selling

In other news, CEO Michael F. Mahoney sold 164,443 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.69, for a total value of $17,051,094.67. Following the transaction, the chief executive officer directly 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 4,000 shares of Boston Scientific stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $106.03, for a total transaction of $424,120.00. Following the completion of the sale, the director owned 18,479 shares in the company, valued at approximately $1,959,328.37. This represents a 17.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 461,144 shares of company stock valued at $47,720,408. 0.50% of the stock is owned by corporate insiders.

About Boston Scientific

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.