Handelsbanken Fonder AB Purchases 106,847 Shares of Boston Scientific Co. (NYSE:BSX)

Handelsbanken Fonder AB raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,662,303 shares of the medical equipment provider’s stock after acquiring an additional 106,847 shares during the period. Boston Scientific makes up 1.1% of Handelsbanken Fonder AB’s portfolio, making the stock its 13th biggest holding. Handelsbanken Fonder AB owned approximately 0.18% of Boston Scientific worth $268,573,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in BSX. Parnassus Investments LLC grew its holdings in Boston Scientific by 0.7% in the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after buying an additional 97 shares during the last quarter. Baldwin Investment Management LLC boosted its position in shares of Boston Scientific by 1.2% in the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock valued at $781,000 after acquiring an additional 102 shares during the period. Evergreen Capital Management LLC grew its stake in shares of Boston Scientific by 1.7% in the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after acquiring an additional 106 shares during the last quarter. PDS Planning Inc increased its position in Boston Scientific by 1.5% during the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after acquiring an additional 113 shares during the period. Finally, Paladin Wealth LLC raised its stake in Boston Scientific by 1.6% during the 1st quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider’s stock valued at $722,000 after purchasing an additional 113 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Boston Scientific

In related news, 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 value of $5,799,551.36. Following the completion of the sale, the executive vice president now owns 178,342 shares in the company, valued at approximately $18,347,824.96. This represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 4,572 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the transaction, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 411,970 shares of company stock worth $42,406,693. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on BSX shares. Robert W. Baird raised their price target on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Royal Bank of Canada upped their price target on Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. BTIG Research reiterated a “buy” rating and issued a $124.00 price objective on shares of Boston Scientific in a research report on Wednesday, April 23rd. Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. Finally, Barclays raised their target price on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Twenty-one investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific presently has an average rating of “Buy” and a consensus target price of $116.00.

Boston Scientific Price Performance

Shares of BSX stock opened at $100.05 on Tuesday. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The stock has a market capitalization of $148.02 billion, a PE ratio of 80.04, a PEG ratio of 2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The stock’s fifty day moving average is $100.49 and its 200-day moving average is $98.54.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The firm had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 EPS. Equities research analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Boston Scientific Company 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.