TCW Group Inc. Sells 147,999 Shares of Boston Scientific Co. (NYSE:BSX)

TCW Group Inc. lowered its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 8.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,630,995 shares of the medical equipment provider's stock after selling 147,999 shares during the period. Boston Scientific makes up approximately 1.2% of TCW Group Inc.'s investment portfolio, making the stock its 20th biggest holding. TCW Group Inc. owned approximately 0.11% of Boston Scientific worth $136,677,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Marshall Wace LLP raised its position in shares of Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider's stock valued at $517,544,000 after purchasing an additional 3,608,158 shares during the last quarter. AustralianSuper Pty Ltd increased its holdings in Boston Scientific by 4,292.3% in the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider's stock valued at $224,320,000 after buying an additional 2,615,903 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Boston Scientific by 30.0% during the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider's stock worth $608,349,000 after purchasing an additional 1,824,405 shares in the last quarter. State Street Corp raised its position in shares of Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider's stock worth $5,266,522,000 after purchasing an additional 1,389,172 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Boston Scientific by 98.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider's stock worth $184,810,000 after acquiring an additional 1,091,561 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the sale, the executive vice president now owns 34,748 shares of the company's stock, valued at approximately $2,913,967.28. This represents a 16.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now directly owns 978 shares of the company's stock, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 328,157 shares of company stock valued at $27,957,676 over the last ninety days. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Canaccord Genuity Group lifted their price objective on Boston Scientific from $98.00 to $101.00 and gave the company a "buy" rating in a research note on Monday. Royal Bank of Canada boosted their price objective on Boston Scientific from $95.00 to $98.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Citigroup increased their price objective on Boston Scientific from $98.00 to $107.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Evercore ISI lifted their price objective on Boston Scientific from $82.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Boston Scientific currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.00.

Boston Scientific Stock Performance

BSX stock traded up $0.34 during trading hours on Wednesday, hitting $90.54. 3,168,438 shares of the stock were exchanged, compared to its average volume of 5,990,254. The firm has a market capitalization of $133.44 billion, a P/E ratio of 74.77, a P/E/G ratio of 2.65 and a beta of 0.80. Boston Scientific Co. has a 12 month low of $54.95 and a 12 month high of $91.93. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The company has a 50-day simple moving average of $87.62 and a two-hundred day simple moving average of $81.55.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter last year, the company posted $0.50 EPS. The company's revenue for the quarter was up 19.3% compared to the same quarter last year. On average, analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

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.