TCW Group Inc. Cuts Stake in Boston Scientific Co. (NYSE:BSX)

TCW Group Inc. trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 4.4% during the fourth quarter, Holdings Channel reports. The fund owned 1,558,553 shares of the medical equipment provider’s stock after selling 72,442 shares during the quarter. Boston Scientific accounts for 1.2% of TCW Group Inc.’s investment portfolio, making the stock its 22nd largest holding. TCW Group Inc.’s holdings in Boston Scientific were worth $139,210,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Fisher Funds Management LTD purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $94,710,000. First Horizon Advisors Inc. increased its holdings in Boston Scientific by 16.2% in the fourth quarter. First Horizon Advisors Inc. now owns 7,469 shares of the medical equipment provider’s stock valued at $667,000 after buying an additional 1,044 shares during the last quarter. Callan Capital LLC increased its holdings in Boston Scientific by 16.3% in the fourth quarter. Callan Capital LLC now owns 4,233 shares of the medical equipment provider’s stock valued at $378,000 after buying an additional 592 shares during the last quarter. Turning Point Benefit Group Inc. bought a new stake in Boston Scientific in the fourth quarter valued at about $309,000. Finally, Deseret Mutual Benefit Administrators increased its holdings in Boston Scientific by 19.7% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 916 shares of the medical equipment provider’s stock valued at $82,000 after buying an additional 151 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Down 0.9 %

NYSE BSX opened at $104.44 on Friday. Boston Scientific Co. has a 1-year low of $65.52 and a 1-year high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $154.12 billion, a PE ratio of 83.55, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The firm’s fifty day simple moving average is $97.98 and its 200-day simple moving average is $89.38.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping 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%. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 1,201 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 25,443 shares in the company, valued at approximately $2,704,845.33. This represents a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Daniel J. Brennan sold 67,333 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the sale, the chief financial officer now owns 225,808 shares of the company’s stock, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,640 shares of company stock worth $15,718,289. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a report on Friday, January 10th. TD Cowen lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. UBS Group lifted their target price on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Barclays lifted their target price on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.39.

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.