Gamco Investors INC. ET AL Cuts Stake in Boston Scientific Co. (BSX)

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Gamco Investors INC. ET AL lessened its position in shares of Boston Scientific Co. (NYSE:BSX) by 23.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 237,764 shares of the medical equipment provider’s stock after selling 74,300 shares during the period. Gamco Investors INC. ET AL’s holdings in Boston Scientific were worth $9,154,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Boston Scientific by 10.4% during the 2nd quarter. FMR LLC now owns 156,622,452 shares of the medical equipment provider’s stock worth $5,121,554,000 after buying an additional 14,711,069 shares during the last quarter. BlackRock Inc. increased its position in Boston Scientific by 2.9% during the 2nd quarter. BlackRock Inc. now owns 109,355,395 shares of the medical equipment provider’s stock worth $3,575,920,000 after purchasing an additional 3,062,924 shares in the last quarter. Janus Henderson Group PLC increased its position in Boston Scientific by 0.7% during the 2nd quarter. Janus Henderson Group PLC now owns 41,739,459 shares of the medical equipment provider’s stock worth $1,364,885,000 after purchasing an additional 273,848 shares in the last quarter. Standard Life Aberdeen plc increased its position in Boston Scientific by 1.3% during the 2nd quarter. Standard Life Aberdeen plc now owns 13,998,353 shares of the medical equipment provider’s stock worth $457,817,000 after purchasing an additional 178,939 shares in the last quarter. Finally, Putnam Investments LLC increased its position in Boston Scientific by 14.4% during the 2nd quarter. Putnam Investments LLC now owns 10,003,513 shares of the medical equipment provider’s stock worth $327,115,000 after purchasing an additional 1,258,287 shares in the last quarter. 91.24% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently commented on BSX shares. Jefferies Financial Group upgraded Boston Scientific from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $34.00 to $42.00 in a research report on Tuesday, September 4th. Wells Fargo & Co lifted their price objective on Boston Scientific from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, September 17th. Morgan Stanley lifted their price objective on Boston Scientific from $38.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 2nd. Barclays started coverage on Boston Scientific in a research report on Monday, October 15th. They set an “overweight” rating and a $43.00 price objective for the company. Finally, Needham & Company LLC reiterated a “strong-buy” rating and set a $43.00 price objective (up previously from $39.00) on shares of Boston Scientific in a research report on Friday, September 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $39.00.

In other news, SVP John Bradley Sorenson sold 10,000 shares of Boston Scientific stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $35.86, for a total value of $358,600.00. Following the transaction, the senior vice president now directly owns 44,636 shares of the company’s stock, valued at approximately $1,600,646.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Wendy Carruthers sold 1,500 shares of Boston Scientific stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $36.64, for a total value of $54,960.00. The disclosure for this sale can be found here. Insiders sold a total of 414,000 shares of company stock valued at $15,347,937 in the last 90 days. 0.73% of the stock is owned by company insiders.

BSX opened at $38.60 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.78 and a quick ratio of 0.56. The stock has a market capitalization of $52.52 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 2.49 and a beta of 0.68. Boston Scientific Co. has a 12 month low of $24.54 and a 12 month high of $39.44.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 24th. The medical equipment provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Boston Scientific had a return on equity of 26.44% and a net margin of 6.93%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 EPS. As a group, sell-side analysts forecast that Boston Scientific Co. will post 1.39 EPS for the current fiscal year.

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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: Cardiovascular, Rhythm Management, and MedSurg. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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

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