Clarius Group LLC Lowers Stock Position in Boston Scientific Co. (NYSE:BSX)

Clarius Group LLC decreased its holdings in Boston Scientific Co. (NYSE:BSX) by 3.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,070 shares of the medical equipment provider’s stock after selling 271 shares during the quarter. Clarius Group LLC’s holdings in Boston Scientific were worth $621,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after purchasing an additional 1,988,082 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of Boston Scientific by 1.5% in the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after acquiring an additional 550,490 shares during the last quarter. Norges Bank purchased a new stake in shares of Boston Scientific during the fourth quarter worth approximately $930,626,000. Capital World Investors raised its stake in Boston Scientific by 69.9% in the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after purchasing an additional 6,588,256 shares during the last quarter. Finally, Putnam Investments LLC raised its position in shares of Boston Scientific by 110.5% in the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after buying an additional 6,859,280 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

BSX traded down $0.22 during trading on Friday, reaching $75.33. 632,631 shares of the company were exchanged, compared to its average volume of 6,270,862. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $79.43. The stock has a market cap of $110.52 billion, a P/E ratio of 63.30, a PEG ratio of 2.49 and a beta of 0.78. The firm has a 50 day moving average of $76.33 and a 200 day moving average of $71.21. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Analysts Set New Price Targets

BSX has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Raymond James raised their price target on Boston Scientific from $85.00 to $91.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 price target on shares of Boston Scientific in a research note on Thursday, July 25th. Finally, Mizuho increased their price objective on Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.76.

Insiders Place Their Bets

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Boston Scientific news, EVP Arthur C. Butcher sold 14,011 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value of $1,055,588.74. Following the sale, the executive vice president now owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The disclosure for this sale can be found here. Insiders have sold a total of 34,960 shares of company stock valued at $2,638,984 in the last three months. Insiders own 0.50% 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 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.