Tredje AP fonden Cuts Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Tredje AP fonden lowered its position in shares of Boston Scientific Co. (NYSE:BSX) by 13.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,016,483 shares of the medical equipment provider’s stock after selling 164,044 shares during the quarter. Tredje AP fonden’s holdings in Boston Scientific were worth $78,279,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. CVA Family Office LLC raised its holdings in Boston Scientific by 7.4% in the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after purchasing an additional 131 shares during the period. International Assets Investment Management LLC raised its stake in shares of Boston Scientific by 0.6% in the second quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock worth $1,740,000 after buying an additional 139 shares during the period. ST Germain D J Co. Inc. lifted its position in shares of Boston Scientific by 8.0% during the 2nd quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after buying an additional 143 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Boston Scientific by 2.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after acquiring an additional 148 shares during the period. Finally, Transcend Capital Advisors LLC increased its holdings in Boston Scientific by 2.2% in the 2nd quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after acquiring an additional 148 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on BSX shares. Needham & Company LLC lifted their price target on shares of Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Argus upped their target price on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Raymond James raised their price target on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Finally, Barclays increased their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 20,949 shares of company stock valued at $1,627,877 over the last ninety days. 0.50% of the stock is owned by insiders.

Boston Scientific Trading Down 1.2 %

Shares of BSX opened at $82.52 on Wednesday. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $84.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The company’s fifty day moving average is $78.35 and its 200 day moving average is $74.39. The stock has a market capitalization of $121.06 billion, a PE ratio of 69.34, a P/E/G ratio of 2.75 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the firm posted $0.53 EPS. The business’s quarterly revenue was up 14.5% on a year-over-year basis. Sell-side analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal 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.