Massachusetts Financial Services Co. MA Cuts Position in Boston Scientific Co. (NYSE:BSX)

Massachusetts Financial Services Co. MA decreased its position in Boston Scientific Co. (NYSE:BSX) by 19.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,667,693 shares of the medical equipment provider’s stock after selling 6,117,525 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Boston Scientific were worth $2,150,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. CRA Financial Services LLC lifted its holdings in shares of Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after acquiring an additional 117 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of Boston Scientific by 9.7% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after purchasing an additional 119 shares during the last quarter. Adero Partners LLC boosted its holdings in shares of Boston Scientific by 3.6% in the 3rd quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock worth $303,000 after purchasing an additional 127 shares during the period. Ashton Thomas Securities LLC increased its position in shares of Boston Scientific by 1.3% during the 3rd quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after purchasing an additional 129 shares during the last quarter. Finally, CVA Family Office LLC lifted its position in Boston Scientific by 7.4% in the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after buying an additional 131 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

NYSE:BSX opened at $90.17 on Thursday. The company has a 50 day moving average price of $85.71 and a 200-day moving average price of $79.92. Boston Scientific Co. has a 1-year low of $53.93 and a 1-year high of $91.08. The firm has a market cap of $132.90 billion, a price-to-earnings ratio of 74.52, a price-to-earnings-growth ratio of 2.66 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 earnings per share. Equities research analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup boosted their price objective on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Monday. Sanford C. Bernstein upped their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Mizuho raised their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price objective on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Insider Buying and Selling

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 9.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 309,270 shares of company stock worth $26,196,718 in the last 90 days. Insiders own 0.50% of the company’s stock.

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.