Danica Pension Livsforsikringsaktieselskab Sells 1,024,443 Shares of Boston Scientific Corporation $BSX

Danica Pension Livsforsikringsaktieselskab lessened its holdings in Boston Scientific Corporation (NYSE:BSX) by 51.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 970,286 shares of the medical equipment provider’s stock after selling 1,024,443 shares during the period. Boston Scientific makes up approximately 1.2% of Danica Pension Livsforsikringsaktieselskab’s holdings, making the stock its 18th biggest holding. Danica Pension Livsforsikringsaktieselskab’s holdings in Boston Scientific were worth $60,885,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Renaissance Group LLC purchased a new position in shares of Boston Scientific during the fourth quarter valued at $28,064,000. Rathbones Group PLC lifted its position in shares of Boston Scientific by 20.9% in the 4th quarter. Rathbones Group PLC now owns 2,759,657 shares of the medical equipment provider’s stock worth $263,133,000 after purchasing an additional 477,680 shares during the period. Waycross Partners LLC purchased a new stake in Boston Scientific during the fourth quarter worth $2,384,000. Meiji Yasuda America Inc bought a new stake in Boston Scientific during the 4th quarter valued at $4,708,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Boston Scientific by 6.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,173,399 shares of the medical equipment provider’s stock valued at $205,843,000 after acquiring an additional 139,004 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Down 1.4%

BSX stock opened at $43.14 on Wednesday. The company has a market capitalization of $64.12 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 0.84 and a beta of 0.58. Boston Scientific Corporation has a 12 month low of $42.20 and a 12 month high of $109.50. The firm’s fifty day simple moving average is $47.77 and its 200-day simple moving average is $64.93. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 earnings per share. As a group, equities research analysts forecast that Boston Scientific Corporation will post 3.35 earnings per share for the current year.

Boston Scientific declared that its Board of Directors has initiated a share buyback plan on Monday, May 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical equipment provider to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director David C. Habiger purchased 2,250 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $55.92 per share, with a total value of $125,820.00. Following the transaction, the director owned 13,878 shares of the company’s stock, valued at approximately $776,057.76. This trade represents a 19.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cheryl Pegus acquired 1,770 shares of Boston Scientific stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $56.49 per share, with a total value of $99,987.30. Following the purchase, the director directly owned 1,770 shares in the company, valued at approximately $99,987.30. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 9,800 shares of company stock valued at $554,012. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the subject of several recent research reports. Wolfe Research lowered Boston Scientific from an “outperform” rating to a “peer perform” rating in a research report on Friday, May 29th. Bank of America dropped their price objective on Boston Scientific from $105.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Mizuho reduced their target price on shares of Boston Scientific from $90.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Jefferies Financial Group decreased their price target on shares of Boston Scientific from $100.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Finally, Leerink Partners decreased their price objective on Boston Scientific from $87.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $79.84.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.