Forsta AP Fonden Has $40.50 Million Stock Holdings in Boston Scientific Corporation (NYSE:BSX)

Key Points

• Forsta AP Fonden reduced its stake in Boston Scientific by selling 7,400 shares, resulting in ownership of 401,500 shares valued at $40.5 million.
• Analysts have rated Boston Scientific positively, with recent target price increases, including Barclays raising it from $125 to $133 and others viewing it as a "buy" or "strong-buy."
• Insider trading activity showed that executives sold a significant number of shares recently, with total sales amounting to over $35 million in the last three months.

Forsta AP Fonden lessened its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 401,500 shares of the medical equipment provider's stock after selling 7,400 shares during the quarter. Forsta AP Fonden's holdings in Boston Scientific were worth $40,503,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Colonial Trust Co SC raised its stake in Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 260 shares during the period. Investment Management Corp VA ADV bought a new stake in Boston Scientific in the 4th quarter valued at $25,000. Sunbeam Capital Management LLC bought a new stake in Boston Scientific in the 4th quarter valued at $26,000. Y.D. More Investments Ltd bought a new stake in Boston Scientific in the 1st quarter valued at $27,000. Finally, Ameriflex Group Inc. bought a new stake in Boston Scientific in the 4th quarter valued at $31,000. Institutional investors own 89.07% of the company's stock.

Insiders Place Their Bets

In related news, Director Yoshiaki Fujimori sold 2,901 shares of the firm's 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 sale, the director directly owned 2,081 shares of the company's stock, valued at $222,646.19. This trade represents a 58.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.69, for a total value of $17,051,094.67. Following the completion of the sale, the chief executive officer directly owned 1,476,882 shares in the company, valued at $153,137,894.58. This trade represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 345,029 shares of company stock valued at $35,976,603 over the last ninety days. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on BSX. Leerink Partnrs upgraded Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Leerink Partners started coverage on Boston Scientific in a research note on Monday, June 16th. They issued an "outperform" rating and a $118.00 price target on the stock. Evercore ISI increased their price objective on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $115.00 price objective on shares of Boston Scientific in a research report on Wednesday, May 28th. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $117.50.

Boston Scientific Price Performance

Shares of BSX traded up $0.26 during trading hours on Friday, hitting $103.22. 5,076,176 shares of the company were exchanged, compared to its average volume of 7,613,214. The company has a market cap of $152.95 billion, a price-to-earnings ratio of 61.44, a P/E/G ratio of 2.48 and a beta of 0.66. Boston Scientific Corporation has a fifty-two week low of $75.00 and a fifty-two week high of $108.94. The company has a quick ratio of 0.88, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The firm's fifty day moving average is $103.54 and its 200 day moving average is $102.07.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. The company had revenue of $5.06 billion for 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%. Boston Scientific's quarterly revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. On average, equities analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal 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.