Boston Scientific Co. (NYSE:BSX) is Rhenman & Partners Asset Management AB’s Largest Position

Rhenman & Partners Asset Management AB decreased its position in Boston Scientific Co. (NYSE:BSX) by 24.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 444,000 shares of the medical equipment provider’s stock after selling 146,000 shares during the quarter. Boston Scientific comprises 4.1% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its largest holding. Rhenman & Partners Asset Management AB’s holdings in Boston Scientific were worth $39,658,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BSX. Vanguard Group Inc. lifted its stake in shares of Boston Scientific by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock worth $11,869,805,000 after buying an additional 1,600,062 shares during the last quarter. Wellington Management Group LLP raised its holdings in Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock worth $3,230,293,000 after acquiring an additional 3,344,571 shares during the period. Geode Capital Management LLC lifted its position in Boston Scientific by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock worth $2,729,371,000 after acquiring an additional 1,041,329 shares during the last quarter. Norges Bank bought a new stake in Boston Scientific during the fourth quarter valued at about $1,762,522,000. Finally, Franklin Resources Inc. grew its position in shares of Boston Scientific by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider’s stock valued at $1,477,307,000 after purchasing an additional 832,386 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Barclays increased their target price on shares of Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. boosted their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, Argus set a $130.00 price objective on Boston Scientific in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Price Performance

BSX opened at $89.78 on Friday. 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 company’s 50 day simple moving average is $101.90 and its 200-day simple moving average is $93.55. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The stock has a market capitalization of $132.78 billion, a P/E ratio of 71.82, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last released 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%. Sell-side analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 1,201 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the transaction, the executive vice president now owns 25,443 shares of the company’s stock, valued at $2,704,845.33. This represents a 4.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the sale, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,183 shares of company stock worth $13,948,476. Company insiders own 0.50% of the company’s stock.

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.