TCW Group Inc. Decreases Holdings in Boston Scientific Co. (NYSE:BSX)

TCW Group Inc. reduced its position in Boston Scientific Co. (NYSE:BSX) by 4.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,558,553 shares of the medical equipment provider’s stock after selling 72,442 shares during the period. Boston Scientific accounts for about 1.2% of TCW Group Inc.’s holdings, making the stock its 22nd biggest holding. TCW Group Inc. owned 0.11% of Boston Scientific worth $139,210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. TFC Financial Management Inc. lifted its holdings in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. Global Wealth Strategies & Associates lifted its holdings in shares of Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. West Oak Capital LLC purchased a new stake in shares of Boston Scientific in the 4th quarter valued at about $29,000. Dunhill Financial LLC lifted its holdings in shares of Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new stake in Boston Scientific during the 3rd quarter valued at approximately $28,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Down 0.9 %

Shares of Boston Scientific stock opened at $104.44 on Friday. Boston Scientific Co. has a fifty-two week low of $65.52 and a fifty-two week high of $107.17. The firm has a market cap of $154.12 billion, a PE ratio of 83.55, a P/E/G ratio of 2.79 and a beta of 0.80. The business’s fifty day moving average is $97.98 and its two-hundred day moving average is $89.38. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

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

Insiders Place Their Bets

In other Boston Scientific news, CFO Daniel J. Brennan sold 67,333 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total value of $7,086,124.92. Following the transaction, the chief financial officer now directly owns 225,808 shares of the company’s stock, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,640 shares of company stock valued at $15,718,289 in the last quarter. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on BSX. Piper Sandler upped their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada upped their price objective on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, TD Cowen upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.39.

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.