Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Stock Holdings in Boston Scientific Corporation (NYSE:BSX)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in Boston Scientific Corporation (NYSE:BSX) by 9.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 232,158 shares of the medical equipment provider’s stock after selling 23,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Boston Scientific were worth $23,420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NS Partners Ltd grew its stake in Boston Scientific by 1.6% in the 1st quarter. NS Partners Ltd now owns 368,189 shares of the medical equipment provider’s stock worth $37,143,000 after acquiring an additional 5,704 shares during the period. Bank Pictet & Cie Europe AG grew its stake in shares of Boston Scientific by 40.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider’s stock valued at $6,529,000 after buying an additional 21,173 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of Boston Scientific by 18.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider’s stock valued at $3,987,000 after buying an additional 6,264 shares during the period. Segall Bryant & Hamill LLC acquired a new position in shares of Boston Scientific during the 1st quarter valued at $8,234,000. Finally, Blue Trust Inc. lifted its holdings in shares of Boston Scientific by 13.0% during the 1st quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider’s stock valued at $504,000 after acquiring an additional 575 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Barclays lifted their target price on shares of Boston Scientific from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Oppenheimer lifted their target price on shares of Boston Scientific from $110.00 to $118.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Wells Fargo & Company lifted their target price on shares of Boston Scientific from $118.00 to $124.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Truist Financial lifted their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Buy” and an average price target of $117.50.

Insider Transactions at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.69, for a total value of $17,051,094.67. Following the completion of the transaction, the chief executive officer owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. This represents a 10.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the completion of the transaction, the executive vice president owned 178,342 shares of the company’s stock, valued at approximately $18,347,824.96. This trade represents a 24.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 345,029 shares of company stock worth $35,976,603 in the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $102.56 on Thursday. Boston Scientific Corporation has a fifty-two week low of $75.53 and a fifty-two week high of $108.94. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The company has a market cap of $151.97 billion, a PE ratio of 61.05, a P/E/G ratio of 2.47 and a beta of 0.66. The firm has a 50-day simple moving average of $103.51 and a 200 day simple moving average of $102.08.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. Boston Scientific’s quarterly revenue was up 22.8% on a year-over-year basis. On average, sell-side analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current year.

Boston Scientific Profile

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.