Boston Scientific Co. (NYSE:BSX) Shares Acquired by Swedbank AB

Swedbank AB grew its holdings in Boston Scientific Co. (NYSE:BSX) by 0.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,430,925 shares of the medical equipment provider’s stock after buying an additional 8,246 shares during the quarter. Swedbank AB’s holdings in Boston Scientific were worth $119,912,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. EP Wealth Advisors LLC increased its position in Boston Scientific by 46.1% during the fourth quarter. EP Wealth Advisors LLC now owns 12,055 shares of the medical equipment provider’s stock worth $697,000 after purchasing an additional 3,804 shares during the last quarter. SageView Advisory Group LLC acquired a new stake in Boston Scientific during the fourth quarter worth about $588,000. ICA Group Wealth Management LLC acquired a new stake in shares of Boston Scientific during the fourth quarter valued at about $88,000. HighPoint Advisor Group LLC acquired a new stake in shares of Boston Scientific during the fourth quarter valued at about $469,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Boston Scientific during the fourth quarter valued at about $139,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the sale, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 316,253 shares of company stock valued at $26,714,298. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Down 0.9 %

BSX stock opened at $86.77 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a twelve month low of $49.15 and a twelve month high of $88.09. The company’s 50 day moving average is $81.76 and its two-hundred day moving average is $76.82. The stock has a market cap of $127.30 billion, a P/E ratio of 72.92, a PEG ratio of 2.87 and a beta of 0.80.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BSX. Royal Bank of Canada lifted their price target on shares of Boston Scientific from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Truist Financial lifted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday. Citigroup lifted their price target on shares of Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Morgan Stanley raised their price objective on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, TD Cowen raised their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average target price of $88.55.

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.