DnB Asset Management AS Purchases 198,985 Shares of Boston Scientific Co. (NYSE:BSX)

DnB Asset Management AS boosted its position in shares of Boston Scientific Co. (NYSE:BSX) by 76.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 460,272 shares of the medical equipment provider’s stock after purchasing an additional 198,985 shares during the quarter. DnB Asset Management AS’s holdings in Boston Scientific were worth $41,111,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in BSX. Norges Bank acquired a new stake in Boston Scientific during the 4th quarter worth $1,762,522,000. Raymond James Financial Inc. bought a new position in Boston Scientific during the fourth quarter worth about $190,780,000. Vanguard Group Inc. increased its stake in shares of Boston Scientific by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after acquiring an additional 1,600,062 shares during the last quarter. State Street Corp raised its position in shares of Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares during the period. Finally, Fisher Funds Management LTD bought a new position in Boston Scientific during the 4th quarter worth approximately $94,710,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

Shares of BSX opened at $100.74 on Friday. The company has a market cap of $149.01 billion, a PE ratio of 80.59, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The firm has a 50-day moving average of $102.15 and a 200-day moving average of $92.93. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

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

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. The trade was a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock valued at $14,319,269 in the last quarter. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BSX shares. Argus set a $130.00 target price on shares of Boston Scientific in a report on Tuesday, February 18th. Stifel Nicolaus lifted their target price on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Royal Bank of Canada raised their price target on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research report on Monday, March 3rd. Finally, Morgan Stanley raised their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.91.

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.