Forsta AP Fonden Raises Stake in Boston Scientific Co. (NYSE:BSX)

Forsta AP Fonden lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 19.0% during the 3rd quarter, Holdings Channel reports. The fund owned 408,900 shares of the medical equipment provider’s stock after buying an additional 65,300 shares during the quarter. Forsta AP Fonden’s holdings in Boston Scientific were worth $34,266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Wealth Asset Management LLC raised its stake in Boston Scientific by 2.0% during the third quarter. Legacy Wealth Asset Management LLC now owns 24,508 shares of the medical equipment provider’s stock worth $2,054,000 after purchasing an additional 472 shares during the period. Trueblood Wealth Management LLC raised its position in shares of Boston Scientific by 14.4% during the 3rd quarter. Trueblood Wealth Management LLC now owns 3,125 shares of the medical equipment provider’s stock valued at $262,000 after buying an additional 393 shares during the period. Lake Street Advisors Group LLC lifted its holdings in Boston Scientific by 9.0% in the third quarter. Lake Street Advisors Group LLC now owns 7,312 shares of the medical equipment provider’s stock valued at $613,000 after acquiring an additional 604 shares during the last quarter. Cullinan Associates Inc. grew its position in Boston Scientific by 1.8% in the third quarter. Cullinan Associates Inc. now owns 29,000 shares of the medical equipment provider’s stock worth $2,559,000 after acquiring an additional 500 shares during the period. Finally, Tandem Capital Management Corp ADV grew its position in Boston Scientific by 0.8% in the third quarter. Tandem Capital Management Corp ADV now owns 58,351 shares of the medical equipment provider’s stock worth $4,890,000 after acquiring an additional 485 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

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

Boston Scientific Stock Down 0.4 %

Boston Scientific stock traded down $0.37 during mid-day trading on Friday, hitting $84.73. The company had a trading volume of 6,297,105 shares, compared to its average volume of 6,046,294. The stock has a market cap of $124.31 billion, a price-to-earnings ratio of 71.20, a PEG ratio of 2.87 and a beta of 0.80. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 1 year low of $49.15 and a 1 year high of $88.79. The business has a fifty day moving average of $83.34 and a 200 day moving average of $77.62.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the business earned $0.50 EPS. Boston Scientific’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, sell-side analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on BSX shares. Mizuho upped their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday. Truist Financial increased their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Bank of America boosted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus upped their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Raymond James raised their price target on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $93.39.

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.