Primecap Management Co. CA Sells 896,834 Shares of Boston Scientific Co. (NYSE:BSX)

Primecap Management Co. CA cut its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent disclosure 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 comprises 2.6% of Primecap Management Co. CA's portfolio, making the stock its 5th largest holding. Primecap Management Co. CA owned approximately 2.51% of Boston Scientific worth $3,298,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Boston Scientific by 4.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider's stock worth $345,205,000 after purchasing an additional 173,034 shares during the last quarter. Mechanics Bank Trust Department bought a new position in shares of Boston Scientific during the 4th quarter valued at approximately $415,000. Highland Capital Management LLC purchased a new position in shares of Boston Scientific in the fourth quarter valued at $4,887,000. Covenant Asset Management LLC purchased a new stake in Boston Scientific during the fourth quarter valued at $3,405,000. Finally, Brookstone Capital Management lifted its position in Boston Scientific by 23.7% during the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock valued at $9,455,000 after purchasing an additional 20,307 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several brokerages have recently issued reports on BSX. Piper Sandler upped 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. Royal Bank of Canada lifted their target price on Boston Scientific from $105.00 to $116.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Morgan Stanley increased their price target on Boston Scientific from $100.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. StockNews.com downgraded shares of Boston Scientific from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Finally, Citigroup lifted their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $108.91.

Insider Activity

In other news, EVP Arthur C. Butcher sold 17,313 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares of the company's stock, valued at $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel J. Brennan sold 15,087 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the transaction, the chief financial officer now directly owns 241,451 shares in the company, valued at $25,369,256.57. This represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock worth $14,319,269 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Down 0.8 %

Shares of NYSE BSX traded down $0.85 during mid-day trading on Friday, reaching $100.66. 8,616,878 shares of the company were exchanged, compared to its average volume of 5,761,625. The firm has a 50-day moving average of $101.57 and a 200 day moving average of $92.22. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The stock has a market cap of $148.55 billion, a price-to-earnings ratio of 80.53, a P/E/G ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate 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 earnings per share for the current year.

Boston Scientific 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.