Boston Scientific Co. (NYSE:BSX) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 68.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,371,407 shares of the medical equipment provider’s stock after buying an additional 965,080 shares during the quarter. Boston Scientific makes up about 0.8% of Handelsbanken Fonder AB’s holdings, making the stock its 17th biggest holding. Handelsbanken Fonder AB’s holdings in Boston Scientific were worth $198,724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CVA Family Office LLC increased its stake in Boston Scientific by 7.4% during the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after acquiring an additional 131 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Boston Scientific by 0.6% in the second quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock valued at $1,740,000 after buying an additional 139 shares in the last quarter. ST Germain D J Co. Inc. grew its stake in shares of Boston Scientific by 8.0% in the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after buying an additional 143 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Boston Scientific by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after buying an additional 148 shares in the last quarter. Finally, Transcend Capital Advisors LLC grew its stake in shares of Boston Scientific by 2.2% in the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after buying an additional 148 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Robert W. Baird lifted their price objective on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. TD Cowen lifted their price objective on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley lifted their target price on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.10.

Boston Scientific Stock Up 0.9 %

NYSE BSX traded up $0.72 during trading on Friday, reaching $84.54. 4,243,643 shares of the company’s stock were exchanged, compared to its average volume of 5,978,190. The stock has a market cap of $124.03 billion, a P/E ratio of 71.04, a price-to-earnings-growth ratio of 2.78 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The company has a 50 day moving average price of $80.07 and a two-hundred day moving average price of $75.85. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $84.89.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. Boston Scientific’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 20,949 shares of company stock valued at $1,673,685 in the last three months. 0.50% of the stock is currently owned by company insiders.

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.