Avanza Fonder AB Cuts Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Avanza Fonder AB decreased its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 9.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,447 shares of the medical equipment provider's stock after selling 14,924 shares during the quarter. Avanza Fonder AB's holdings in Boston Scientific were worth $14,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Accurate Wealth Management LLC increased its position in shares of Boston Scientific by 1,168.7% during the 1st quarter. Accurate Wealth Management LLC now owns 30,512 shares of the medical equipment provider's stock valued at $2,858,000 after purchasing an additional 28,107 shares during the last quarter. Simplicity Wealth LLC bought a new position in shares of Boston Scientific during the 1st quarter valued at approximately $2,059,000. GAMMA Investing LLC increased its position in shares of Boston Scientific by 17.2% during the 1st quarter. GAMMA Investing LLC now owns 25,554 shares of the medical equipment provider's stock valued at $2,578,000 after purchasing an additional 3,745 shares during the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of Boston Scientific by 25.8% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,675 shares of the medical equipment provider's stock valued at $371,000 after purchasing an additional 754 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Boston Scientific by 9.1% during the 1st quarter. Farther Finance Advisors LLC now owns 12,062 shares of the medical equipment provider's stock valued at $1,221,000 after purchasing an additional 1,002 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Analysts Set New Price Targets

BSX has been the topic of several analyst reports. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Barclays upped their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Morgan Stanley boosted their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Wall Street Zen raised shares of Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Twenty-one analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $116.00.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 56,372 shares of Boston Scientific stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the completion of the sale, the executive vice president now owns 178,342 shares of the company's stock, valued at approximately $18,347,824.96. The trade was a 24.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the transaction, the chief executive officer now owns 1,535,706 shares of the company's stock, valued at $157,379,150.88. The trade was a 9.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock valued at $42,406,693 in the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Up 1.1%

NYSE BSX traded up $1.04 during midday trading on Friday, hitting $99.60. 10,330,779 shares of the company traded hands, compared to its average volume of 6,562,283. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The company has a market cap of $147.35 billion, a PE ratio of 79.68, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The company's 50-day simple moving average is $100.84 and its 200-day simple moving average is $98.62. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business's revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. As a group, equities research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.