Boston Scientific Corporation $BSX Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB reduced its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 42.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 508,246 shares of the medical equipment provider’s stock after selling 379,958 shares during the period. AMF Tjanstepension AB’s holdings in Boston Scientific were worth $49,620,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Steph & Co. acquired a new position in shares of Boston Scientific in the third quarter valued at approximately $25,000. Financial Consulate Inc. acquired a new stake in shares of Boston Scientific during the third quarter worth about $25,000. FWL Investment Management LLC purchased a new position in shares of Boston Scientific during the second quarter worth approximately $26,000. Sound Income Strategies LLC boosted its stake in shares of Boston Scientific by 90.9% during the second quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 120 shares during the period. Finally, Kilter Group LLC purchased a new stake in shares of Boston Scientific during the second quarter worth approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Performance

BSX stock opened at $92.56 on Friday. Boston Scientific Corporation has a 1 year low of $85.98 and a 1 year high of $109.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.51. The stock has a market capitalization of $137.22 billion, a price-to-earnings ratio of 49.50, a PEG ratio of 1.64 and a beta of 0.67. The stock’s fifty day moving average is $95.70 and its two-hundred day moving average is $99.85.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.97 billion. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. On average, research analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insider Buying and Selling

In other Boston Scientific news, Director Ellen M. Zane sold 12,891 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the completion of the sale, the director directly owned 24,134 shares in the company, valued at approximately $2,371,889.52. This trade represents a 34.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the completion of the sale, the executive vice president owned 23,600 shares of the company’s stock, valued at approximately $2,396,580. The trade was a 42.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 93,095 shares of company stock worth $9,305,450 in the last three months. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Boston Scientific in a report on Wednesday. The Goldman Sachs Group reissued a “buy” rating and issued a $112.00 target price on shares of Boston Scientific in a research note on Friday, January 9th. Truist Financial lowered their price objective on Boston Scientific from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Oppenheimer decreased their price target on shares of Boston Scientific from $125.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $123.89.

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.