KLP Kapitalforvaltning AS Acquires New Shares in Boston Scientific Co. (NYSE:BSX)

KLP Kapitalforvaltning AS acquired a new position in Boston Scientific Co. (NYSE:BSX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 595,656 shares of the medical equipment provider's stock, valued at approximately $53,204,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BSX. Advisors Asset Management Inc. lifted its stake in shares of Boston Scientific by 21.3% in the third quarter. Advisors Asset Management Inc. now owns 24,060 shares of the medical equipment provider's stock valued at $2,016,000 after purchasing an additional 4,233 shares during the period. Citizens Financial Group Inc. RI increased its holdings in Boston Scientific by 41.4% in the third quarter. Citizens Financial Group Inc. RI now owns 5,039 shares of the medical equipment provider's stock valued at $422,000 after buying an additional 1,475 shares in the last quarter. Cypress Capital Group boosted its stake in shares of Boston Scientific by 19.9% during the 3rd quarter. Cypress Capital Group now owns 4,784 shares of the medical equipment provider's stock worth $401,000 after acquiring an additional 794 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Boston Scientific by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider's stock worth $671,940,000 after acquiring an additional 64,720 shares during the period. Finally, 49 Wealth Management LLC purchased a new position in Boston Scientific in the 3rd quarter valued at approximately $208,000. Institutional investors and hedge funds own 89.07% of the company's stock.

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Boston Scientific Stock Performance

Shares of BSX stock traded down $0.77 during trading hours on Wednesday, reaching $102.31. The stock had a trading volume of 6,645,668 shares, compared to its average volume of 5,796,517. 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 firm has a 50-day simple moving average of $102.10 and a 200-day simple moving average of $92.87. The firm has a market capitalization of $151.32 billion, a PE ratio of 81.85, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating 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%. As a group, equities analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BSX shares. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price objective on the stock in a research report on Friday, January 10th. Citigroup boosted their price target on Boston Scientific from $107.00 to $122.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Morgan Stanley boosted their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Truist Financial raised their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus boosted their price target on Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Two equities research 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 company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $108.91.

Insider Activity at Boston Scientific

In other news, CFO Daniel J. Brennan sold 67,333 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the completion of the transaction, the chief financial officer now directly owns 225,808 shares in the company, valued at $23,764,033.92. The trade was a 22.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares in the company, valued at $3,179,416.38. This represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock valued at $14,319,269 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

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.