Primecap Management Co. CA Reduces Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Primecap Management Co. CA lowered its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,929,666 shares of the medical equipment provider’s stock after selling 896,834 shares during the period. Boston Scientific makes up 2.6% of Primecap Management Co. CA’s investment portfolio, making the stock its 5th largest holding. Primecap Management Co. CA owned about 2.51% of Boston Scientific worth $3,298,558,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. TFC Financial Management Inc. raised its holdings in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. Dunhill Financial LLC raised its holdings in shares of Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. Global Wealth Strategies & Associates raised its holdings in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. West Oak Capital LLC purchased a new position in shares of Boston Scientific during the fourth quarter valued at approximately $29,000. Finally, Valley National Advisers Inc. raised its holdings in shares of Boston Scientific by 262.4% during the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 286 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 1.9 %

Shares of BSX opened at $99.02 on Tuesday. Boston Scientific Co. has a 1-year low of $66.16 and a 1-year high of $107.17. The company has a 50-day moving average of $101.21 and a 200 day moving average of $91.97. The firm has a market capitalization of $146.14 billion, a price-to-earnings ratio of 79.22, a PEG ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, research analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the transaction, the executive vice president now owns 25,443 shares of the company’s stock, valued at $2,704,845.33. The trade was a 4.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward J. Ludwig sold 12,000 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the completion of the transaction, the director now directly owns 24,398 shares in the company, valued at approximately $2,573,501.04. The trade was a 32.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,302 shares of company stock valued at $14,319,269. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Piper Sandler boosted their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research report on Friday, January 10th. Finally, Truist Financial increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.91.

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.