Boston Scientific Corporation $BSX Shares Sold by Atle Fund Management AB

Atle Fund Management AB trimmed its stake in Boston Scientific Corporation (NYSE:BSX) by 31.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,680 shares of the medical equipment provider’s stock after selling 39,505 shares during the quarter. Boston Scientific comprises 3.3% of Atle Fund Management AB’s portfolio, making the stock its 11th largest position. Atle Fund Management AB’s holdings in Boston Scientific were worth $8,463,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Boston Scientific in the second quarter valued at $2,089,937,000. Edgewood Management LLC purchased a new position in shares of Boston Scientific in the 2nd quarter worth about $746,655,000. Parnassus Investments LLC raised its holdings in shares of Boston Scientific by 42,978.9% in the 3rd quarter. Parnassus Investments LLC now owns 6,884,440 shares of the medical equipment provider’s stock worth $672,128,000 after purchasing an additional 6,868,459 shares during the period. Bessemer Group Inc. lifted its stake in shares of Boston Scientific by 14,391.8% in the 2nd quarter. Bessemer Group Inc. now owns 2,919,801 shares of the medical equipment provider’s stock valued at $313,618,000 after purchasing an additional 2,899,653 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Boston Scientific by 133.5% during the 3rd quarter. Jennison Associates LLC now owns 4,938,746 shares of the medical equipment provider’s stock worth $482,170,000 after purchasing an additional 2,823,744 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on BSX. Needham & Company LLC reaffirmed a “buy” rating on shares of Boston Scientific in a research report on Thursday, January 15th. Morgan Stanley raised their target price on shares of Boston Scientific from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Canaccord Genuity Group decreased their price target on shares of Boston Scientific from $132.00 to $131.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. The Goldman Sachs Group reiterated a “buy” rating and issued a $112.00 price target on shares of Boston Scientific in a report on Friday, January 9th. Finally, Evercore ISI set a $112.00 price objective on Boston Scientific in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.89.

Boston Scientific Trading Up 1.3%

BSX opened at $93.58 on Friday. Boston Scientific Corporation has a 12-month low of $85.98 and a 12-month high of $109.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.96. The stock has a market capitalization of $138.72 billion, a PE ratio of 50.04, a P/E/G ratio of 1.64 and a beta of 0.67. The firm’s fifty day moving average price is $95.21 and its 200 day moving average price is $99.49.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the transaction, the executive vice president owned 178,342 shares of the company’s stock, valued at $17,739,678.74. This trade represents a 21.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $101.55, for a total value of $1,758,135.15. Following the completion of the transaction, the executive vice president owned 23,600 shares of the company’s stock, valued at approximately $2,396,580. The trade was a 42.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 80,204 shares of company stock valued at $7,998,563. Insiders own 0.50% of the company’s stock.

Boston Scientific Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.