Handelsbanken Fonder AB Has $268.57 Million Stake in Boston Scientific Co. (NYSE:BSX)

Handelsbanken Fonder AB grew its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 4.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,662,303 shares of the medical equipment provider's stock after acquiring an additional 106,847 shares during the period. Boston Scientific comprises approximately 1.1% of Handelsbanken Fonder AB's investment portfolio, making the stock its 13th biggest position. Handelsbanken Fonder AB owned approximately 0.18% of Boston Scientific worth $268,573,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BSX. Sanibel Captiva Trust Company Inc. purchased a new position in Boston Scientific during the first quarter worth about $399,000. SG Americas Securities LLC boosted its position in shares of Boston Scientific by 70.5% during the 1st quarter. SG Americas Securities LLC now owns 389,893 shares of the medical equipment provider's stock worth $39,332,000 after purchasing an additional 161,198 shares during the period. Accurate Wealth Management LLC boosted its position in shares of Boston Scientific by 1,168.7% during the first quarter. Accurate Wealth Management LLC now owns 30,512 shares of the medical equipment provider's stock worth $2,858,000 after buying an additional 28,107 shares during the period. Simplicity Wealth LLC acquired a new stake in shares of Boston Scientific in the first quarter valued at $2,059,000. Finally, GAMMA Investing LLC raised its holdings in shares of Boston Scientific by 17.2% in the 1st quarter. GAMMA Investing LLC now owns 25,554 shares of the medical equipment provider's stock valued at $2,578,000 after buying an additional 3,745 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Trading Up 2.1%

BSX stock traded up $2.03 on Friday, hitting $100.59. 5,019,698 shares of the company were exchanged, compared to its average volume of 7,673,439. 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 stock has a market capitalization of $148.82 billion, a price-to-earnings ratio of 80.51, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a twelve month low of $71.88 and a twelve month high of $107.17. The business's fifty day moving average is $100.84 and its two-hundred day moving average is $98.62.

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

Insider Activity

In other news, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares of the company's stock, valued at $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,314 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the sale, the executive vice president now owns 22,235 shares in the company, valued at approximately $2,269,304.10. The trade was a 43.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock worth $42,406,693 over the last three months. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BSX. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Citigroup reaffirmed a "buy" rating and set a $125.00 price objective (up previously from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Evercore ISI boosted their price objective on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Argus set a $130.00 price objective on shares of Boston Scientific in a research report on Tuesday, February 18th. Finally, Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Twenty-one research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $116.00.

About Boston Scientific

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.