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

Primecap Management Co. CA lessened its holdings in Boston Scientific Co. (NYSE:BSX) by 0.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,054,777 shares of the medical equipment provider’s stock after selling 8,000 shares during the quarter. Boston Scientific makes up about 1.3% of Primecap Management Co. CA’s investment portfolio, making the stock its 23rd largest holding. Primecap Management Co. CA’s holdings in Boston Scientific were worth $1,729,202,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quad Cities Investment Group LLC boosted its holdings in shares of Boston Scientific by 9.6% during the fourth quarter. Quad Cities Investment Group LLC now owns 3,424 shares of the medical equipment provider’s stock valued at $123,000 after acquiring an additional 300 shares during the period. Scotia Capital Inc. boosted its holdings in shares of Boston Scientific by 4.3% during the fourth quarter. Scotia Capital Inc. now owns 7,240 shares of the medical equipment provider’s stock valued at $256,000 after acquiring an additional 300 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in shares of Boston Scientific by 60.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 800 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 300 shares during the period. Kalos Management Inc. boosted its holdings in shares of Boston Scientific by 1.0% during the fourth quarter. Kalos Management Inc. now owns 31,123 shares of the medical equipment provider’s stock valued at $1,099,000 after acquiring an additional 315 shares during the period. Finally, Kaizen Advisory LLC boosted its holdings in shares of Boston Scientific by 10.1% during the fourth quarter. Kaizen Advisory LLC now owns 3,632 shares of the medical equipment provider’s stock valued at $128,000 after acquiring an additional 333 shares during the period. 90.80% of the stock is owned by hedge funds and other institutional investors.

BSX stock traded down $0.07 during trading on Thursday, hitting $40.73. The company had a trading volume of 157,902 shares, compared to its average volume of 7,836,260. The company has a market capitalization of $57.25 billion, a P/E ratio of 27.74, a PEG ratio of 2.44 and a beta of 0.75. Boston Scientific Co. has a fifty-two week low of $31.55 and a fifty-two week high of $41.99. The company has a quick ratio of 1.12, a current ratio of 1.39 and a debt-to-equity ratio of 0.82.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Boston Scientific had a return on equity of 24.65% and a net margin of 18.08%. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the company earned $0.33 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities analysts anticipate that Boston Scientific Co. will post 1.55 EPS for the current year.

In other Boston Scientific news, SVP Maulik Nanavaty sold 3,038 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $36.74, for a total value of $111,616.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David A. Pierce sold 14,739 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $39.13, for a total transaction of $576,737.07. Following the completion of the sale, the executive vice president now owns 38,601 shares in the company, valued at $1,510,457.13. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,797 shares of company stock worth $2,186,636. 0.66% of the stock is owned by company insiders.

Several equities analysts have recently issued reports on BSX shares. Needham & Company LLC reissued a “buy” rating and set a $43.00 price target on shares of Boston Scientific in a report on Monday, May 13th. BTIG Research reissued a “buy” rating on shares of Boston Scientific in a report on Thursday, April 25th. Canaccord Genuity reduced their price target on shares of Boston Scientific from $45.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Argus upped their price objective on shares of Boston Scientific from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, February 13th. Finally, Evercore ISI raised shares of Boston Scientific from an “in-line” rating to an “outperform” rating and set a $36.20 price objective for the company in a report on Monday, May 13th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Boston Scientific presently has a consensus rating of “Buy” and a consensus target price of $41.87.

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Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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