Swedbank AB Acquires 8,246 Shares of Boston Scientific Co. (NYSE:BSX)

Swedbank AB boosted its stake in Boston Scientific Co. (NYSE:BSX) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,430,925 shares of the medical equipment provider’s stock after acquiring an additional 8,246 shares during the quarter. Swedbank AB owned 0.10% of Boston Scientific worth $119,912,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BSX. CRA Financial Services LLC raised its stake in Boston Scientific by 4.3% in the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after buying an additional 117 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Boston Scientific by 9.7% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after acquiring an additional 119 shares during the period. Adero Partners LLC lifted its holdings in Boston Scientific by 3.6% during the 3rd quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock valued at $303,000 after purchasing an additional 127 shares during the last quarter. Ashton Thomas Securities LLC boosted its position in Boston Scientific by 1.3% during the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock worth $835,000 after purchasing an additional 129 shares during the period. Finally, CVA Family Office LLC increased its holdings in shares of Boston Scientific by 7.4% in the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after purchasing an additional 131 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 314,147 shares of company stock valued at $26,643,598. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

NYSE:BSX opened at $90.00 on Monday. Boston Scientific Co. has a 1-year low of $53.93 and a 1-year high of $91.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The firm has a market cap of $132.64 billion, a price-to-earnings ratio of 74.38, a price-to-earnings-growth ratio of 2.69 and a beta of 0.79. The company has a 50 day moving average price of $85.99 and a 200-day moving average price of $80.22.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter last year, the business posted $0.50 earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities research analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on BSX shares. Evercore ISI raised their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. BTIG Research lifted their price target on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Wells Fargo & Company upped their price target on shares of Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Bank of America increased their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, TD Cowen boosted their price objective on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Company 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.