PGGM Investments Lowers Position in Boston Scientific Co. (NYSE:BSX)

PGGM Investments decreased its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 20.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,580 shares of the medical equipment provider's stock after selling 28,319 shares during the period. PGGM Investments' holdings in Boston Scientific were worth $6,393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. FMR LLC lifted its holdings in shares of Boston Scientific by 6.8% in the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider's stock valued at $6,648,595,000 after purchasing an additional 8,045,263 shares in the last quarter. Vanguard Group Inc. lifted its stake in Boston Scientific by 1.2% during the third quarter. Vanguard Group Inc. now owns 123,768,348 shares of the medical equipment provider's stock worth $6,534,969,000 after purchasing an additional 1,525,432 shares during the last quarter. Wellington Management Group LLP lifted its stake in Boston Scientific by 5.9% during the third quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider's stock worth $2,221,641,000 after purchasing an additional 2,336,348 shares during the last quarter. Morgan Stanley lifted its stake in Boston Scientific by 2.3% during the third quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider's stock worth $1,119,378,000 after purchasing an additional 481,891 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Boston Scientific by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 17,207,345 shares of the medical equipment provider's stock valued at $908,548,000 after acquiring an additional 51,293 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Boston Scientific

In other news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now directly owns 50,638 shares of the company's stock, valued at $3,509,213.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the transaction, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BSX shares. Royal Bank of Canada increased their price target on Boston Scientific from $78.00 to $82.00 and gave the stock an "outperform" rating in a report on Thursday. Needham & Company LLC lifted their target price on shares of Boston Scientific from $71.00 to $82.00 and gave the stock a "buy" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boston Scientific from $63.00 to $73.00 and gave the stock a "hold" rating in a report on Thursday. Citigroup lifted their price target on shares of Boston Scientific from $79.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday. Finally, StockNews.com lowered shares of Boston Scientific from a "buy" rating to a "hold" rating in a research note on Saturday, March 16th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.09.

Boston Scientific Price Performance

Shares of BSX traded down $0.09 during trading hours on Friday, reaching $73.17. 8,786,294 shares of the stock traded hands, compared to its average volume of 6,225,924. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a market cap of $107.35 billion, a P/E ratio of 61.49, a price-to-earnings-growth ratio of 2.51 and a beta of 0.78. The company's 50-day moving average price is $67.82 and its two-hundred day moving average price is $60.63. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $74.39.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. The company had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.59 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, analysts anticipate that Boston Scientific Co. will post 2.32 earnings per share 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 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.