KLP Kapitalforvaltning AS Buys New Position in Boston Scientific Co. (NYSE:BSX)

KLP Kapitalforvaltning AS bought a new position in Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 595,656 shares of the medical equipment provider’s stock, valued at approximately $53,204,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in Boston Scientific during the 4th quarter valued at about $190,780,000. State Street Corp increased its stake in shares of Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after purchasing an additional 1,389,172 shares during the last quarter. Fisher Funds Management LTD bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $94,710,000. Fisher Asset Management LLC lifted its stake in Boston Scientific by 21.6% in the fourth quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider’s stock valued at $518,138,000 after purchasing an additional 1,028,977 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Boston Scientific by 26.0% in the fourth quarter. American Century Companies Inc. now owns 4,488,823 shares of the medical equipment provider’s stock worth $400,942,000 after buying an additional 925,268 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Down 0.8 %

Shares of NYSE BSX opened at $100.66 on Friday. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17. The stock’s fifty day simple moving average is $101.68 and its two-hundred day simple moving average is $92.35. The stock has a market capitalization of $148.55 billion, a PE ratio of 80.53, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the sale, the executive vice president now owns 28,454 shares in the company, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the sale, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. The trade was 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 worth $14,319,269 in the last 90 days. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Canaccord Genuity Group upped their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Argus set a $130.00 price objective on shares of Boston Scientific in a research note on Tuesday, February 18th. TD Cowen increased their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, UBS Group lifted their price target on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.