HealthInvest Partners AB Acquires New Position in Boston Scientific Co. (NYSE:BSX)

HealthInvest Partners AB acquired a new stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 64,806 shares of the medical equipment provider's stock, valued at approximately $3,746,000. Boston Scientific accounts for approximately 3.0% of HealthInvest Partners AB's portfolio, making the stock its 16th biggest position.

Other hedge funds also recently made changes to their positions in the company. Bruce G. Allen Investments LLC bought a new position in Boston Scientific in the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC boosted its stake in Boston Scientific by 58.0% in the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider's stock worth $34,000 after purchasing an additional 215 shares during the period. Coppell Advisory Solutions LLC bought a new position in Boston Scientific in the 2nd quarter worth approximately $34,000. Motco boosted its stake in Boston Scientific by 136.3% in the 3rd quarter. Motco now owns 645 shares of the medical equipment provider's stock worth $34,000 after purchasing an additional 372 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in Boston Scientific in the 1st quarter worth approximately $32,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Trading Up 1.0 %

BSX stock traded up $0.67 during midday trading on Tuesday, reaching $68.11. The company's stock had a trading volume of 6,619,085 shares, compared to its average volume of 6,377,813. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The stock has a fifty day simple moving average of $67.05 and a two-hundred day simple moving average of $59.52. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $69.21. The firm has a market capitalization of $99.92 billion, a price-to-earnings ratio of 63.03, a PEG ratio of 2.38 and a beta of 0.78.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the company earned $0.45 EPS. On average, equities research analysts predict that Boston Scientific Co. will post 2.25 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com downgraded Boston Scientific from a "buy" rating to a "hold" rating in a research note on Saturday, March 16th. Needham & Company LLC increased their target price on Boston Scientific from $60.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, February 1st. Evercore ISI increased their target price on Boston Scientific from $68.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, April 4th. Royal Bank of Canada increased their target price on Boston Scientific from $70.00 to $78.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Argus increased their target price on Boston Scientific from $69.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $68.50.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 16,351 shares of the firm's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares of the company's stock, valued at $3,509,213.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares of the company's stock, valued at $3,779,820.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the firm's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares of the company's stock, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is currently owned by corporate insiders.

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.

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