DnB Asset Management AS Has $41.11 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

DnB Asset Management AS lifted its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 76.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 SEC filing.

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

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Insider Activity

In other Boston Scientific news, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the completion of the sale, the chief financial officer now directly owns 225,808 shares of the company's stock, valued at approximately $23,764,033.92. The trade was a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $2,704,845.33. This represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock worth $14,319,269 in the last quarter. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Trading Up 1.6 %

BSX traded up $1.59 during trading on Monday, reaching $100.95. 5,454,553 shares of the stock traded hands, compared to its average volume of 6,061,336. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The stock's 50-day moving average is $102.16 and its 200 day moving average is $93.18. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17. The stock has a market capitalization of $149.30 billion, a PE ratio of 80.76, a P/E/G ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX - Get Free Report) last released 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 return on equity of 17.80% and a net margin of 11.07%. Equities analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays upped their price target on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 target price on the stock in a report on Friday, January 10th. Stifel Nicolaus boosted their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Truist Financial raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Finally, Raymond James boosted their target price on Boston Scientific from $119.00 to $122.00 and gave the stock a "strong-buy" rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific currently has an average rating of "Moderate Buy" and an average target price of $108.91.

Boston Scientific Company 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.