19,732,673 Shares in Boston Scientific Co. (NYSE:BSX) Purchased by Norges Bank

Norges Bank purchased a new position in shares of Boston Scientific Co. (NYSE:BSX) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 19,732,673 shares of the medical equipment provider’s stock, valued at approximately $1,762,522,000. Norges Bank owned about 1.34% of Boston Scientific as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BSX. Blair William & Co. IL lifted its stake in Boston Scientific by 12.3% in the fourth quarter. Blair William & Co. IL now owns 22,437 shares of the medical equipment provider’s stock valued at $2,004,000 after acquiring an additional 2,461 shares during the last quarter. Caisse Des Depots ET Consignations acquired a new stake in Boston Scientific in the 4th quarter valued at about $7,959,000. Homestead Advisers Corp grew its holdings in Boston Scientific by 3.8% during the fourth quarter. Homestead Advisers Corp now owns 1,179,526 shares of the medical equipment provider’s stock worth $105,355,000 after purchasing an additional 43,700 shares during the period. NEOS Investment Management LLC increased its position in Boston Scientific by 16.4% during the fourth quarter. NEOS Investment Management LLC now owns 108,757 shares of the medical equipment provider’s stock worth $9,714,000 after buying an additional 15,325 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its stake in Boston Scientific by 129.4% in the fourth quarter. UniSuper Management Pty Ltd now owns 975,961 shares of the medical equipment provider’s stock valued at $87,173,000 after buying an additional 550,439 shares during the period. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Boston Scientific stock opened at $102.31 on Thursday. The company has a market capitalization of $151.32 billion, a PE ratio of 81.85, a P/E/G ratio of 2.79 and a beta of 0.77. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $102.10 and a two-hundred day moving average price of $92.87. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction on Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the sale, the executive vice president now owns 25,443 shares in the company, valued at $2,704,845.33. The trade was a 4.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now owns 5,502 shares of the company’s stock, valued at $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,302 shares of company stock valued at $14,319,269. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Truist Financial lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler upped their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company raised their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. Finally, UBS Group upped their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $108.91.

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.