Norges Bank Takes $1.76 Billion Position in Boston Scientific Co. (NYSE:BSX)

Norges Bank purchased a new position in Boston Scientific Co. (NYSE:BSX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. TFC Financial Management Inc. grew its holdings in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after buying an additional 210 shares in the last quarter. Dunhill Financial LLC lifted its stake in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider's stock worth $28,000 after buying an additional 152 shares in the last quarter. Global Wealth Strategies & Associates grew its stake in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. West Oak Capital LLC acquired a new stake in Boston Scientific in the 4th quarter valued at about $29,000. Finally, Valley National Advisers Inc. lifted its stake in Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 286 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. StockNews.com cut Boston Scientific from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Stifel Nicolaus raised their target price on Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Morgan Stanley lifted their price target on Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Argus set a $130.00 price objective on shares of Boston Scientific in a report on Tuesday, February 18th. Finally, Canaccord Genuity Group lifted their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific has a consensus rating of "Moderate Buy" and an average target price of $108.91.

Insider Transactions at Boston Scientific

In related news, CFO Daniel J. Brennan sold 15,087 shares of Boston Scientific stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the transaction, the chief financial officer now owns 241,451 shares in the company, valued at $25,369,256.57. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the sale, the executive vice president now directly owns 28,454 shares in the company, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 137,302 shares of company stock valued at $14,319,269. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Up 0.9 %

Shares of BSX stock traded up $0.94 during trading on Monday, reaching $100.30. The company's stock had a trading volume of 3,251,026 shares, compared to its average volume of 6,040,985. The company has a market capitalization of $148.35 billion, a price-to-earnings ratio of 80.09, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 1-year low of $66.80 and a 1-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. The stock's 50-day moving average price is $102.16 and its 200 day moving average price is $93.18.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share 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%. On average, research analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current year.

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.