Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 23,400 Shares of Boston Scientific Corporation $BSX

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in Boston Scientific Corporation by 9.2%, now owning 232,158 shares worth approximately $23.42 million.
• Boston Scientific received several target price upgrades from analysts, with Barclays raising it from $125.00 to $133.00 and Wells Fargo increasing it from $118.00 to $124.00, while maintaining an overall "buy" rating.
• CEO Michael F. Mahoney sold 164,443 shares in June, representing a 10.02% decrease in his position, alongside other executives who collectively sold 345,029 shares worth $35.98 million in the last quarter.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 232,158 shares of the medical equipment provider's stock after selling 23,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Boston Scientific were worth $23,420,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Boston Partners boosted its position in shares of Boston Scientific by 0.9% in the first quarter. Boston Partners now owns 13,235 shares of the medical equipment provider's stock valued at $1,335,000 after acquiring an additional 116 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Boston Scientific by 6.6% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 47,163 shares of the medical equipment provider's stock valued at $4,758,000 after acquiring an additional 2,930 shares during the period. S Bank Fund Management Ltd bought a new position in shares of Boston Scientific in the first quarter valued at approximately $1,397,000. National Pension Service boosted its position in shares of Boston Scientific by 5.2% in the first quarter. National Pension Service now owns 3,523,142 shares of the medical equipment provider's stock valued at $355,415,000 after acquiring an additional 172,938 shares during the period. Finally, Fox Hill Wealth Management bought a new position in shares of Boston Scientific in the first quarter worth approximately $209,000. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boston Scientific

In other news, Director Yoshiaki Fujimori sold 2,901 shares of Boston Scientific stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total value of $310,377.99. Following the completion of the transaction, the director owned 2,081 shares of the company's stock, valued at $222,646.19. The trade was a 58.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $5,799,551.36. Following the completion of the transaction, the executive vice president directly owned 178,342 shares of the company's stock, valued at approximately $18,347,824.96. This represents a 24.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 345,029 shares of company stock valued at $35,976,603. Company insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

BSX has been the topic of several research analyst reports. Oppenheimer upped their price objective on shares of Boston Scientific from $110.00 to $118.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Robert W. Baird upped their price objective on shares of Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. UBS Group upped their target price on Boston Scientific from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company upped their target price on Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Two analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $117.50.

Boston Scientific Stock Down 0.1%

Boston Scientific stock traded down $0.11 on Monday, hitting $103.06. 8,516,909 shares of the stock traded hands, compared to its average volume of 7,592,058. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. The firm has a market cap of $152.71 billion, a P/E ratio of 61.35, a price-to-earnings-growth ratio of 2.48 and a beta of 0.66. The business's fifty day simple moving average is $103.56 and its 200 day simple moving average is $102.09. Boston Scientific Corporation has a 1 year low of $77.71 and a 1 year high of $108.94.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. The company's revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. As a group, sell-side analysts forecast that Boston Scientific Corporation 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.