Primecap Management Co. CA Sells 132,561 Shares of Boston Scientific Co. (NYSE:BSX)

Primecap Management Co. CA decreased its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 0.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,826,500 shares of the medical equipment provider's stock after selling 132,561 shares during the period. Boston Scientific makes up 2.3% of Primecap Management Co. CA's portfolio, making the stock its 8th largest position. Primecap Management Co. CA owned approximately 2.57% of Boston Scientific worth $3,169,861,000 at the end of the most recent quarter.

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

Boston Scientific Trading Down 0.2 %

Shares of Boston Scientific stock opened at $90.17 on Thursday. The firm's 50-day moving average price is $85.71 and its two-hundred day moving average price is $79.92. The company has a market capitalization of $132.90 billion, a price-to-earnings ratio of 74.52, a PEG ratio of 2.56 and a beta of 0.79. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12-month low of $53.93 and a 12-month high of $91.08.

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

Analyst Ratings Changes

BSX has been the subject of a number of recent research reports. Truist Financial increased their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Mizuho raised their price target on Boston Scientific from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Bank of America upped their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Citigroup raised their target price on shares of Boston Scientific from $92.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Finally, Raymond James increased their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the company a "strong-buy" rating in a research note on Wednesday, September 4th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $93.39.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares of the company's stock, valued at $13,639,695. This represents a 45.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific 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 sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is owned by insiders.

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.

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