DAVENPORT & Co LLC Trims Stake in Boston Scientific Co. (NYSE:BSX)

DAVENPORT & Co LLC reduced its position in shares of Boston Scientific Co. (NYSE:BSX) by 6.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,283 shares of the medical equipment provider’s stock after selling 1,094 shares during the quarter. DAVENPORT & Co LLC’s holdings in Boston Scientific were worth $537,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BSX. Massachusetts Financial Services Co. MA increased its holdings in Boston Scientific by 118.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 29,733,994 shares of the medical equipment provider’s stock worth $970,220,000 after purchasing an additional 16,151,261 shares during the period. Viking Global Investors LP increased its holdings in Boston Scientific by 72.1% during the 1st quarter. Viking Global Investors LP now owns 31,816,197 shares of the medical equipment provider’s stock worth $1,038,163,000 after purchasing an additional 13,324,535 shares during the period. Wellington Management Group LLP increased its holdings in Boston Scientific by 18.7% during the 1st quarter. Wellington Management Group LLP now owns 42,652,679 shares of the medical equipment provider’s stock worth $1,391,757,000 after purchasing an additional 6,714,969 shares during the period. Jennison Associates LLC increased its holdings in Boston Scientific by 50.3% during the 1st quarter. Jennison Associates LLC now owns 17,067,819 shares of the medical equipment provider’s stock worth $556,923,000 after purchasing an additional 5,709,360 shares during the period. Finally, Majedie Asset Management Ltd purchased a new position in Boston Scientific during the 1st quarter worth $126,800,000. Institutional investors own 89.97% of the company’s stock.

A number of brokerages have recently issued reports on BSX. Raymond James lifted their price target on Boston Scientific from $42.00 to $43.00 and gave the company a “strong-buy” rating in a report on Thursday, April 30th. Credit Suisse Group lifted their price target on Boston Scientific from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Jefferies Financial Group lifted their price target on Boston Scientific from $43.00 to $46.00 and gave the company a “buy” rating in a report on Thursday. Citigroup lifted their price target on Boston Scientific from $44.00 to $46.00 and gave the company a “buy” rating in a report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of Boston Scientific in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company. Boston Scientific has an average rating of “Buy” and a consensus price target of $44.71.

Shares of BSX opened at $38.57 on Friday. The stock has a 50-day moving average of $36.11 and a two-hundred day moving average of $37.19. Boston Scientific Co. has a one year low of $24.10 and a one year high of $46.62. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.80 and a current ratio of 1.21. The stock has a market cap of $53.97 billion, a P/E ratio of 13.68, a P/E/G ratio of 3.94 and a beta of 0.92.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.12. Boston Scientific had a return on equity of 13.68% and a net margin of 39.18%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. The firm’s revenue was down 23.9% compared to the same quarter last year. Analysts predict that Boston Scientific Co. will post 0.93 EPS for the current fiscal year.

In other Boston Scientific news, EVP David A. Pierce sold 2,170 shares of Boston Scientific stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $38.00, for a total transaction of $82,460.00. Following the completion of the sale, the executive vice president now owns 9,401 shares of the company’s stock, valued at approximately $357,238. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

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 devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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

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