Boston Scientific Corporation (NYSE:BSX) Shares Bought by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in Boston Scientific Corporation by 44.7%, now holding 1,361,584 shares after purchasing 420,824 shares in the first quarter.
• Boston Scientific reported a quarterly earnings per share of $0.75, surpassing analysts' expectations and achieving a 22.8% increase in revenue compared to the same quarter last year.
• Institutional investors own 89.07% of Boston Scientific's stock, indicating strong confidence in the company’s market position.

Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 44.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,361,584 shares of the medical equipment provider's stock after purchasing an additional 420,824 shares during the period. Boston Scientific accounts for 0.7% of Skandinaviska Enskilda Banken AB publ's holdings, making the stock its 26th biggest holding. Skandinaviska Enskilda Banken AB publ owned about 0.09% of Boston Scientific worth $137,357,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BSX. Bank Pictet & Cie Europe AG lifted its holdings in shares of Boston Scientific by 40.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after purchasing an additional 21,173 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Boston Scientific by 18.8% in the first quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider's stock valued at $3,987,000 after buying an additional 6,264 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Boston Scientific in the first quarter valued at about $8,234,000. Blue Trust Inc. boosted its holdings in Boston Scientific by 13.0% in the first quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider's stock worth $504,000 after acquiring an additional 575 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Boston Scientific by 109.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider's stock worth $24,126,000 after acquiring an additional 141,398 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of the firm'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 transaction, the chief executive officer directly owned 1,476,882 shares of the company's stock, valued at $153,137,894.58. This trade represents a 10.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $106.97, for a total value of $5,348,500.00. Following the transaction, the executive vice president owned 178,342 shares in the company, valued at approximately $19,077,243.74. This represents a 21.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 457,144 shares of company stock worth $47,296,288. Company insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on BSX. Needham & Company LLC reaffirmed a "buy" rating and issued a $115.00 price objective on shares of Boston Scientific in a research report on Wednesday, May 28th. Royal Bank Of Canada upped their price target 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. Citigroup reiterated a "buy" rating and set a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. BTIG Research reissued a "buy" rating and issued a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company lifted their price target on Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a research report on Thursday. Two research 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 company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $117.50.

Boston Scientific Price Performance

BSX stock traded down $0.14 during trading on Friday, hitting $106.07. The stock had a trading volume of 5,875,124 shares, compared to its average volume of 7,847,640. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $108.94. The company's 50-day moving average price is $103.58 and its two-hundred day moving average price is $101.55. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. The stock has a market capitalization of $156.92 billion, a P/E ratio of 63.14, a PEG ratio of 2.67 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. Boston Scientific had a return on equity of 19.39% and a net margin of 13.55%. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the company posted $0.62 earnings per share. The business's revenue was up 22.8% on a year-over-year basis. As a group, research analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Boston Scientific 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.