Boston Scientific Corporation (NYSE:BSX) Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS trimmed its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 587,756 shares of the medical equipment provider's stock after selling 7,900 shares during the period. KLP Kapitalforvaltning AS's holdings in Boston Scientific were worth $59,293,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BSX. Wellington Management Group LLP grew its stake in Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after acquiring an additional 3,344,571 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Boston Scientific by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock worth $2,729,371,000 after purchasing an additional 1,041,329 shares during the last quarter. Capital World Investors grew its position in shares of Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Boston Scientific by 2.5% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock valued at $1,992,994,000 after purchasing an additional 554,388 shares during the last quarter. Finally, Norges Bank purchased a new position in Boston Scientific during the fourth quarter worth about $1,762,522,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Down 1.5%

Shares of NYSE:BSX traded down $1.58 during trading on Thursday, hitting $106.18. The company's stock had a trading volume of 10,261,040 shares, compared to its average volume of 7,759,810. The company has a market capitalization of $157.09 billion, a PE ratio of 77.50, a PEG ratio of 3.00 and a beta of 0.68. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $108.94. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The stock's 50-day moving average price is $103.55 and its two-hundred day moving average price is $101.31.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.89 billion. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The business's quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 earnings per share. As a group, sell-side analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,572 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the sale, the executive vice president directly owned 18,705 shares of the company's stock, valued at $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer owned 1,476,882 shares in the company, valued at $153,137,894.58. The trade was a 10.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 457,144 shares of company stock worth $47,296,288. Company insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on BSX. Morgan Stanley lifted their price target on Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Citigroup reaffirmed a "buy" rating and set a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Barclays lifted their price target on shares of Boston Scientific from $125.00 to $133.00 and gave the company an "overweight" rating in a report on Thursday. Leerink Partnrs raised shares of Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Boston Scientific in a research report on Monday. Two investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $117.50.

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.