Avanza Fonder AB Acquires Shares of 161,371 Boston Scientific Co. (NYSE:BSX)

Avanza Fonder AB bought a new position in shares of Boston Scientific Co. (NYSE:BSX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 161,371 shares of the medical equipment provider’s stock, valued at approximately $14,414,000.

A number of other institutional investors have also recently modified their holdings of BSX. Procyon Advisors LLC purchased a new position in Boston Scientific during the fourth quarter worth approximately $208,000. Decker Retirement Planning Inc. acquired a new position in shares of Boston Scientific during the 4th quarter worth approximately $89,000. Empirical Asset Management LLC purchased a new position in shares of Boston Scientific during the 4th quarter valued at approximately $1,447,000. Bouvel Investment Partners LLC increased its holdings in Boston Scientific by 1.7% in the 4th quarter. Bouvel Investment Partners LLC now owns 45,907 shares of the medical equipment provider’s stock worth $4,100,000 after acquiring an additional 759 shares in the last quarter. Finally, Ritholtz Wealth Management raised its position in Boston Scientific by 14.2% during the fourth quarter. Ritholtz Wealth Management now owns 32,646 shares of the medical equipment provider’s stock worth $2,916,000 after acquiring an additional 4,050 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BSX shares. BTIG Research upped their price target on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Bank of America raised their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Evercore ISI increased their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein lifted their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company raised their target price on Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $97.26.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now owns 35,319 shares in the company, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,989 shares of company stock worth $2,702,261. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $97.91 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a 12 month low of $59.85 and a 12 month high of $98.31. The firm has a market capitalization of $144.30 billion, a P/E ratio of 81.02, a P/E/G ratio of 2.48 and a beta of 0.80. The company’s fifty day moving average price is $90.57 and its 200 day moving average price is $84.23.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the company posted $0.50 EPS. The company’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal 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.