TCW Group Inc. Sells 218,089 Shares of Boston Scientific Co. (NYSE:BSX)

TCW Group Inc. cut its holdings in Boston Scientific Co. (NYSE:BSX) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,777,978 shares of the medical equipment provider’s stock after selling 218,089 shares during the period. Boston Scientific makes up 1.1% of TCW Group Inc.’s portfolio, making the stock its 23rd largest position. TCW Group Inc. owned 0.12% of Boston Scientific worth $102,750,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new position in shares of Boston Scientific during the fourth quarter valued at about $28,000. Sachetta LLC purchased a new stake in Boston Scientific in the fourth quarter worth about $32,000. Frazier Financial Advisors LLC purchased a new stake in Boston Scientific in the fourth quarter worth about $32,000. Motco grew its holdings in Boston Scientific by 136.3% in the third quarter. Motco now owns 645 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 372 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in Boston Scientific by 58.0% in the fourth quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 215 shares during the period. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BSX has been the topic of a number of recent research reports. Raymond James upped their price objective on shares of Boston Scientific from $73.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 25th. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 16th. Citigroup lifted their price target on shares of Boston Scientific from $85.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Finally, Evercore ISI raised their price objective on shares of Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.41.

Boston Scientific Stock Performance

Boston Scientific stock traded down $0.99 during mid-day trading on Thursday, reaching $74.38. 5,577,058 shares of the company traded hands, compared to its average volume of 6,503,942. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $76.25. The company has a market capitalization of $109.12 billion, a price-to-earnings ratio of 62.67, a price-to-earnings-growth ratio of 2.60 and a beta of 0.77. The firm’s fifty day moving average is $70.27 and its two-hundred day moving average is $63.46.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.68 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. On average, equities research analysts expect that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles J. Dockendorff sold 3,946 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total transaction of $286,874.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Boston Scientific news, Director Charles J. Dockendorff sold 3,946 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total transaction of $286,874.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Eric Francis Yves Thepaut sold 12,931 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $74.14, for a total transaction of $958,704.34. Following the transaction, the executive vice president now directly owns 31,422 shares in the company, valued at $2,329,627.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,599 shares of company stock valued at $5,286,149. Corporate insiders own 0.50% of the company’s stock.

About Boston Scientific

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.