Diamond Hill Capital Management Inc. Sells 16,225 Shares of Boston Scientific Co. (NYSE:BSX)

Diamond Hill Capital Management Inc. cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 473,696 shares of the medical equipment provider’s stock after selling 16,225 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Boston Scientific were worth $42,311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Parnassus Investments LLC increased its holdings in Boston Scientific by 0.7% during the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock worth $1,327,000 after purchasing an additional 97 shares in the last quarter. Madison Investment Advisors LLC bought a new stake in Boston Scientific during the fourth quarter worth $263,000. Impact Capital Partners LLC purchased a new stake in Boston Scientific in the 4th quarter valued at $292,000. Commonwealth Equity Services LLC raised its position in Boston Scientific by 7.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 227,915 shares of the medical equipment provider’s stock valued at $20,357,000 after buying an additional 16,054 shares during the last quarter. Finally, PGGM Investments lifted its stake in Boston Scientific by 47.0% during the 4th quarter. PGGM Investments now owns 192,025 shares of the medical equipment provider’s stock valued at $17,152,000 after acquiring an additional 61,413 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Down 1.1 %

Shares of BSX stock opened at $95.33 on Friday. The stock has a market capitalization of $140.69 billion, a price-to-earnings ratio of 76.26, a PEG ratio of 2.79 and a beta of 0.77. The company’s fifty day simple moving average is $100.92 and its two-hundred day simple moving average is $91.55. Boston Scientific Co. has a 1 year low of $65.52 and a 1 year high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the sale, the executive vice president now owns 35,319 shares in the company, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Daniel J. Brennan sold 15,087 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the transaction, the chief financial officer now owns 241,451 shares of the company’s stock, valued at $25,369,256.57. This trade represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,302 shares of company stock valued at $14,319,269. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

BSX has been the subject of several analyst reports. Royal Bank of Canada increased their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley increased their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. lifted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $108.91.

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.