595,656 Shares in Boston Scientific Co. (NYSE:BSX) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) in the 4th quarter, HoldingsChannel reports. The firm acquired 595,656 shares of the medical equipment provider’s stock, valued at approximately $53,204,000.

A number of other hedge funds have also made changes to their positions in the company. TFC Financial Management Inc. lifted its holdings in Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares in the last quarter. Dunhill Financial LLC grew its stake in Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares in the last quarter. Global Wealth Strategies & Associates lifted its stake in Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 250 shares in the last quarter. West Oak Capital LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth approximately $29,000. Finally, Valley National Advisers Inc. grew its position in shares of Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 286 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BSX. Argus set a $130.00 target price on Boston Scientific in a report on Tuesday, February 18th. Barclays raised their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. UBS Group boosted their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Stifel Nicolaus raised their price target on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Citigroup increased their price objective on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $108.91.

Insiders Place Their Bets

In related news, CFO Daniel J. Brennan sold 15,087 shares of Boston Scientific stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total value of $1,585,191.09. Following the sale, the chief financial officer now directly owns 241,451 shares in the company, valued at $25,369,256.57. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Bradley Sorenson sold 1,201 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the transaction, the executive vice president now directly owns 25,443 shares in the company, valued at approximately $2,704,845.33. This trade represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,302 shares of company stock worth $14,319,269. 0.50% of the stock is owned by insiders.

Boston Scientific Trading Down 0.8 %

NYSE BSX opened at $100.66 on Friday. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The firm has a market cap of $148.55 billion, a PE ratio of 80.53, a P/E/G ratio of 2.79 and a beta of 0.77. The firm’s fifty day moving average is $101.68 and its two-hundred day moving average is $92.35. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Boston Scientific 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.