Andra AP fonden Boosts Stake in Boston Scientific Corporation $BSX

Andra AP fonden lifted its holdings in Boston Scientific Corporation (NYSE:BSX) by 144.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,928 shares of the medical equipment provider’s stock after purchasing an additional 100,406 shares during the period. Andra AP fonden’s holdings in Boston Scientific were worth $10,663,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Boston Scientific

In related news, Director Edward J. Ludwig acquired 3,580 shares of Boston Scientific stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $56.68 per share, for a total transaction of $202,914.40. Following the completion of the purchase, the director owned 25,359 shares in the company, valued at approximately $1,437,348.12. The trade was a 16.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David C. Habiger bought 2,250 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $55.92 per share, with a total value of $125,820.00. Following the completion of the acquisition, the director owned 13,878 shares of the company’s stock, valued at $776,057.76. This trade represents a 19.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 9,800 shares of company stock valued at $554,012 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Boston Scientific Trading Down 1.4%

BSX opened at $43.14 on Wednesday. Boston Scientific Corporation has a 52 week low of $42.20 and a 52 week high of $109.50. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $47.77 and a 200-day simple moving average of $64.93. The firm has a market cap of $64.12 billion, a P/E ratio of 18.05, a P/E/G ratio of 0.84 and a beta of 0.58.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the business posted $0.75 EPS. Boston Scientific’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities analysts expect 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 repurchase program on Monday, May 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical equipment provider to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BSX shares. BTIG Research reiterated a “buy” rating and issued a $65.00 target price on shares of Boston Scientific in a report on Tuesday, June 16th. Canaccord Genuity Group reduced their price target on shares of Boston Scientific from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Daiwa Securities Group cut Boston Scientific from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Evercore set a $65.00 target price on Boston Scientific in a research note on Monday, July 6th. Finally, Zacks Research downgraded Boston Scientific from a “hold” rating to a “strong sell” rating in a research report on Friday, June 5th. One investment 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.84.

About Boston Scientific

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.