Janus Henderson Group PLC Cuts Stock Position in Boston Scientific Co. (NYSE:BSX)

Janus Henderson Group PLC cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 14.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,745,111 shares of the medical equipment provider’s stock after selling 2,571,951 shares during the quarter. Boston Scientific comprises approximately 0.7% of Janus Henderson Group PLC’s portfolio, making the stock its 20th biggest position. Janus Henderson Group PLC owned approximately 1.07% of Boston Scientific worth $1,319,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of BSX. HighTower Advisors LLC raised its holdings in shares of Boston Scientific by 28.2% in the third quarter. HighTower Advisors LLC now owns 109,978 shares of the medical equipment provider’s stock valued at $9,241,000 after acquiring an additional 24,180 shares in the last quarter. Hilltop Holdings Inc. boosted its position in shares of Boston Scientific by 117.2% during the 3rd quarter. Hilltop Holdings Inc. now owns 14,016 shares of the medical equipment provider’s stock worth $1,175,000 after purchasing an additional 7,564 shares during the period. ClearAlpha Technologies LP purchased a new position in Boston Scientific in the third quarter worth approximately $301,000. Concentric Capital Strategies LP increased its position in Boston Scientific by 127.4% during the third quarter. Concentric Capital Strategies LP now owns 96,363 shares of the medical equipment provider’s stock worth $8,075,000 after buying an additional 53,993 shares during the period. Finally, Ascent Group LLC increased its position in Boston Scientific by 10.8% during the 3rd quarter. Ascent Group LLC now owns 8,288 shares of the medical equipment provider’s stock worth $695,000 after purchasing an additional 808 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the sale, the executive vice president now owns 34,748 shares in the company, valued at approximately $2,913,967.28. The trade was a 16.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 321,174 shares of company stock valued at $27,323,759 in the last three months. Insiders own 0.50% of the company’s stock.

Boston Scientific Trading Down 0.3 %

Shares of BSX stock opened at $90.43 on Tuesday. The company has a market capitalization of $133.28 billion, a price-to-earnings ratio of 74.74, a PEG ratio of 2.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The company has a 50-day simple moving average of $86.70 and a two-hundred day simple moving average of $80.80. Boston Scientific Co. has a 52-week low of $53.93 and a 52-week high of $91.93.

Boston Scientific (NYSE:BSX) last announced 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. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the business posted $0.50 earnings per share. Boston Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. Research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on BSX. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Citigroup upped their price target on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, October 24th. BTIG Research raised their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Stifel Nicolaus increased their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Canaccord Genuity Group increased their target price on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

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.