19,732,673 Shares in Boston Scientific Co. (NYSE:BSX) Purchased by Norges Bank

Norges Bank acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 19,732,673 shares of the medical equipment provider’s stock, valued at approximately $1,762,522,000.

A number of other large investors also recently modified their holdings of BSX. Parnassus Investments LLC boosted its holdings in Boston Scientific by 0.7% during the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock worth $1,327,000 after acquiring an additional 97 shares during the last quarter. PDS Planning Inc grew its position in Boston Scientific by 1.5% in the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after purchasing an additional 113 shares in the last quarter. Adero Partners LLC increased its stake in Boston Scientific by 3.3% in the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock valued at $334,000 after buying an additional 120 shares during the last quarter. Grove Bank & Trust lifted its position in shares of Boston Scientific by 4.4% during the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after buying an additional 122 shares in the last quarter. Finally, PFG Investments LLC grew its holdings in shares of Boston Scientific by 1.6% in the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock valued at $725,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In other Boston Scientific news, Director Edward J. Ludwig sold 12,000 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total value of $1,265,760.00. Following the transaction, the director now directly owns 24,398 shares of the company’s stock, valued at $2,573,501.04. The trade was a 32.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction that occurred on 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 directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock worth $14,319,269 in the last 90 days. 0.50% of the stock is owned by company insiders.

Boston Scientific Trading Down 0.7 %

NYSE BSX opened at $102.31 on Thursday. The stock’s 50-day simple moving average is $102.10 and its two-hundred day simple moving average is $92.87. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $151.32 billion, a price-to-earnings ratio of 81.85, a PEG ratio of 2.79 and a beta of 0.77.

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

Analyst Ratings Changes

Several research firms have weighed in on BSX. Truist Financial boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler lifted their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. 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 report on Monday, February 10th. Argus set a $130.00 price target on shares of Boston Scientific in a report on Tuesday, February 18th. Finally, Raymond James boosted their target price on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $108.91.

Boston Scientific 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.