Boston Scientific Co. (NYSE:BSX) Stock Position Reduced by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB cut its position in shares of Boston Scientific Co. (NYSE:BSX) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 580,000 shares of the medical equipment provider’s stock after selling 20,000 shares during the period. Boston Scientific makes up 3.3% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 4th biggest holding. Rhenman & Partners Asset Management AB’s holdings in Boston Scientific were worth $31,372,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BSX. National Bank of Canada FI increased its stake in Boston Scientific by 9.7% during the 2nd quarter. National Bank of Canada FI now owns 561,692 shares of the medical equipment provider’s stock worth $30,080,000 after buying an additional 49,782 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Boston Scientific by 3.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 139,354 shares of the medical equipment provider’s stock valued at $6,972,000 after purchasing an additional 4,049 shares during the last quarter. Transcend Capital Advisors LLC increased its position in shares of Boston Scientific by 182.1% in the 2nd quarter. Transcend Capital Advisors LLC now owns 12,325 shares of the medical equipment provider’s stock valued at $667,000 after purchasing an additional 7,956 shares during the last quarter. IFM Investors Pty Ltd grew its position in shares of Boston Scientific by 7.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 286,057 shares of the medical equipment provider’s stock valued at $15,473,000 after buying an additional 20,169 shares during the last quarter. Finally, Intact Investment Management Inc. grew its position in shares of Boston Scientific by 7.2% in the 1st quarter. Intact Investment Management Inc. now owns 17,800 shares of the medical equipment provider’s stock valued at $891,000 after buying an additional 1,200 shares during the last quarter. 89.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on BSX. StockNews.com began coverage on shares of Boston Scientific in a research note on Thursday, October 5th. They set a “hold” rating for the company. Truist Financial reiterated a “buy” rating and set a $61.00 price target on shares of Boston Scientific in a research note on Thursday, September 21st. BTIG Research increased their price target on shares of Boston Scientific from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, September 21st. Robert W. Baird increased their price target on shares of Boston Scientific from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Finally, Canaccord Genuity Group raised their target price on shares of Boston Scientific from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.55.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 15,867 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $55.00, for a total transaction of $872,685.00. Following the completion of the transaction, the executive vice president now directly owns 197,992 shares in the company, valued at approximately $10,889,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Michael F. Mahoney sold 113,355 shares of Boston Scientific stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $53.91, for a total transaction of $6,110,968.05. Following the completion of the sale, the chief executive officer now directly owns 1,498,922 shares in the company, valued at $80,806,885.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph Michael Fitzgerald sold 15,867 shares of Boston Scientific stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $55.00, for a total transaction of $872,685.00. Following the sale, the executive vice president now owns 197,992 shares of the company’s stock, valued at $10,889,560. The disclosure for this sale can be found here. In the last three months, insiders sold 408,996 shares of company stock worth $21,589,497. 0.71% of the stock is owned by corporate insiders.

Boston Scientific Price Performance

Shares of BSX traded up $0.32 during trading hours on Tuesday, reaching $54.78. The company had a trading volume of 1,532,301 shares, compared to its average volume of 8,114,308. The firm has a 50 day simple moving average of $52.11 and a 200-day simple moving average of $52.33. The company has a current ratio of 1.42, a quick ratio of 0.90 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $80.25 billion, a price-to-earnings ratio of 66.41, a PEG ratio of 2.14 and a beta of 0.77. Boston Scientific Co. has a 12-month low of $42.73 and a 12-month high of $55.38.

Boston Scientific (NYSE:BSX) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Boston Scientific had a net margin of 8.93% and a return on equity of 15.46%. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same period last year, the firm posted $0.43 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Research analysts expect that Boston Scientific Co. will post 2.01 earnings per share 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 MedSurg and Cardiovascular segments. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.