Massachusetts Financial Services Co. MA Has $2.15 Billion Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Massachusetts Financial Services Co. MA cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 19.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,667,693 shares of the medical equipment provider’s stock after selling 6,117,525 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.74% of Boston Scientific worth $2,150,953,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Triad Wealth Partners LLC bought a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $26,000. Values First Advisors Inc. bought a new position in Boston Scientific during the third quarter worth $28,000. Andra AP fonden acquired a new position in Boston Scientific in the second quarter valued at approximately $29,000. Lynx Investment Advisory acquired a new position in shares of Boston Scientific during the second quarter valued at about $30,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Boston Scientific in the 3rd quarter worth $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on BSX. JPMorgan Chase & Co. increased their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Morgan Stanley raised their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Citigroup increased their target price on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Insider Transactions at Boston Scientific

In other news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 309,270 shares of company stock valued at $26,196,718 over the last three months. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $90.17 on Thursday. The company has a 50 day moving average of $85.71 and a 200 day moving average of $79.92. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm has a market cap of $132.90 billion, a P/E ratio of 74.52, a PEG ratio of 2.66 and a beta of 0.79. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.08.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 EPS. As a group, research analysts expect that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Boston Scientific Company 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.