Skandinaviska Enskilda Banken AB publ Increases Holdings in Boston Scientific Co. (NYSE:BSX)

Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 7.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 366,301 shares of the medical equipment provider’s stock after purchasing an additional 25,361 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Boston Scientific were worth $15,663,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its position in Boston Scientific by 15.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 88,935 shares of the medical equipment provider’s stock worth $3,438,000 after purchasing an additional 11,665 shares during the period. Parnassus Investments CA boosted its position in Boston Scientific by 70.7% during the 2nd quarter. Parnassus Investments CA now owns 15,112,760 shares of the medical equipment provider’s stock worth $646,222,000 after purchasing an additional 6,259,424 shares during the period. Kiwi Wealth Investments Limited Partnership acquired a new position in Boston Scientific in the 1st quarter worth $10,182,000. Fred Alger Management LLC lifted its holdings in Boston Scientific by 17.5% in the 1st quarter. Fred Alger Management LLC now owns 455,125 shares of the medical equipment provider’s stock worth $17,591,000 after buying an additional 67,644 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in Boston Scientific by 17.9% in the 2nd quarter. IFM Investors Pty Ltd now owns 189,868 shares of the medical equipment provider’s stock worth $8,119,000 after buying an additional 28,829 shares in the last quarter. 89.80% of the stock is owned by hedge funds and other institutional investors.

BSX opened at $44.85 on Wednesday. The firm has a market cap of $63.86 billion, a price-to-earnings ratio of 135.91, a price-to-earnings-growth ratio of 2.93 and a beta of 0.88. Boston Scientific Co. has a fifty-two week low of $32.99 and a fifty-two week high of $46.28. The company’s 50-day moving average price is $44.30 and its 200 day moving average price is $42.32. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 0.55.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Monday, July 26th. The medical equipment provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.94 billion. Boston Scientific had a net margin of 4.56% and a return on equity of 12.67%. Boston Scientific’s quarterly revenue was up 53.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 earnings per share. Research analysts anticipate that Boston Scientific Co. will post 1.61 earnings per share for the current year.

A number of brokerages have commented on BSX. Barclays began coverage on shares of Boston Scientific in a report on Monday, May 24th. They issued an “overweight” rating and a $51.00 price objective on the stock. Raymond James boosted their price objective on shares of Boston Scientific from $50.00 to $53.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 28th. TheStreet lowered shares of Boston Scientific from a “b” rating to a “c+” rating in a report on Tuesday, July 27th. Credit Suisse Group boosted their price objective on shares of Boston Scientific from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Finally, Morgan Stanley upped their target price on shares of Boston Scientific from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $48.65.

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 105,490 shares of the company’s stock in a transaction dated Tuesday, July 27th. The shares were sold at an average price of $45.00, for a total value of $4,747,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael F. Mahoney sold 201,041 shares of the company’s stock in a transaction dated Tuesday, July 6th. The stock was sold at an average price of $43.41, for a total transaction of $8,727,189.81. Following the completion of the transaction, the chief executive officer now owns 2,081,822 shares of the company’s stock, valued at approximately $90,371,893.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 595,010 shares of company stock worth $26,297,956. 0.71% of the stock is owned by company insiders.

About Boston Scientific

Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Rhythm and Neuro, Cardiovascular and MedSurg. The Rhythm and Neuro segment develops implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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