Epoch Investment Partners Inc. Reduces Stock Position in Boston Scientific Co. (NYSE:BSX)

Epoch Investment Partners Inc. lowered its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 15.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,776 shares of the medical equipment provider’s stock after selling 1,381 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Boston Scientific were worth $533,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Eagle Bay Advisors LLC boosted its holdings in Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 309 shares during the period. First Foundation Advisors purchased a new stake in shares of Boston Scientific in the 1st quarter worth $25,000. RiverPark Advisors LLC purchased a new stake in shares of Boston Scientific in the 1st quarter worth $30,000. Northwest Investment Counselors LLC purchased a new stake in shares of Boston Scientific in the 1st quarter worth $31,000. Finally, Sachetta LLC purchased a new stake in shares of Boston Scientific in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Charles J. Dockendorff sold 3,946 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 17,587 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,620,617. The disclosure for this sale can be found here. Insiders sold a total of 62,441 shares of company stock valued at $4,624,453 in the last ninety days. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

BSX has been the subject of a number of analyst reports. Citigroup upped their price objective on Boston Scientific from $87.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Morgan Stanley raised their target price on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised their target price on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday. Raymond James increased their price target on Boston Scientific from $85.00 to $91.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Finally, Canaccord Genuity Group increased their price target on Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $84.76.

Boston Scientific Stock Performance

Shares of NYSE BSX traded up $0.66 during trading hours on Friday, reaching $74.92. The stock had a trading volume of 7,973,424 shares, compared to its average volume of 5,863,226. The firm has a market cap of $109.92 billion, a price-to-earnings ratio of 62.96, a PEG ratio of 2.49 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $79.43. The firm has a 50-day moving average of $76.49 and a 200-day moving average of $70.40.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The business’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. Equities research analysts predict that Boston Scientific Co. will post 2.4 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.