Boston Scientific Corporation $BSX Shares Purchased by Andra AP fonden

Andra AP fonden lifted its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 144.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 169,928 shares of the medical equipment provider’s stock after acquiring an additional 100,406 shares during the quarter. Andra AP fonden’s holdings in Boston Scientific were worth $10,663,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BSX. FWL Investment Management LLC purchased a new stake in Boston Scientific in the second quarter valued at $26,000. Swiss RE Ltd. purchased a new position in shares of Boston Scientific during the fourth quarter worth about $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Boston Scientific during the fourth quarter worth about $26,000. Bangor Savings Bank increased its position in shares of Boston Scientific by 94.7% during the fourth quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 142 shares in the last quarter. Finally, Sfam LLC purchased a new stake in shares of Boston Scientific in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, Director David C. Habiger purchased 2,250 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the completion of the transaction, the director directly owned 13,878 shares in the company, valued at $776,057.76. This represents a 19.35% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Cheryl Pegus purchased 1,770 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $56.49 per share, with a total value of $99,987.30. Following the purchase, the director directly owned 1,770 shares in the company, valued at approximately $99,987.30. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 9,800 shares of company stock worth $554,012. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BSX. Stifel Nicolaus dropped their price target on Boston Scientific from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, June 25th. Daiwa Securities Group cut Boston Scientific from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Mizuho decreased their price objective on Boston Scientific from $90.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Robert W. Baird set a $70.00 target price on shares of Boston Scientific in a research report on Thursday, May 28th. Finally, Jefferies Financial Group cut their target price on shares of Boston Scientific from $100.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.84.

Boston Scientific Stock Performance

NYSE:BSX opened at $43.14 on Wednesday. The firm’s fifty day simple moving average is $47.77 and its 200-day simple moving average is $64.93. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42. The stock has a market cap of $64.12 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 0.84 and a beta of 0.58. Boston Scientific Corporation has a fifty-two week low of $42.20 and a fifty-two week high of $109.50.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.19 billion. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.Boston Scientific’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. Analysts expect that Boston Scientific Corporation will post 3.35 earnings per share for the current fiscal year.

Boston Scientific announced that its Board of Directors has initiated a share buyback program on Monday, May 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical equipment provider to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Boston Scientific Company 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.