Danica Pension Livsforsikringsaktieselskab Sells 1,024,443 Shares of Boston Scientific Corporation $BSX

Danica Pension Livsforsikringsaktieselskab reduced its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 51.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 970,286 shares of the medical equipment provider’s stock after selling 1,024,443 shares during the period. Boston Scientific accounts for 1.2% of Danica Pension Livsforsikringsaktieselskab’s portfolio, making the stock its 18th biggest holding. Danica Pension Livsforsikringsaktieselskab owned 0.07% of Boston Scientific worth $60,885,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Renaissance Group LLC purchased a new stake in Boston Scientific in the 4th quarter worth $28,064,000. Rathbones Group PLC lifted its position in shares of Boston Scientific by 20.9% in the fourth quarter. Rathbones Group PLC now owns 2,759,657 shares of the medical equipment provider’s stock valued at $263,133,000 after acquiring an additional 477,680 shares in the last quarter. Waycross Partners LLC bought a new position in shares of Boston Scientific in the fourth quarter worth about $2,384,000. Meiji Yasuda America Inc bought a new position in shares of Boston Scientific in the fourth quarter worth about $4,708,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Boston Scientific by 6.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,173,399 shares of the medical equipment provider’s stock worth $205,843,000 after purchasing an additional 139,004 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on BSX shares. Wells Fargo & Company reissued an “equal weight” rating and set a $55.00 target price (down from $75.00) on shares of Boston Scientific in a research note on Thursday, May 28th. Zacks Research cut shares of Boston Scientific from a “hold” rating to a “strong sell” rating in a research report on Friday, June 5th. Leerink Partners lowered their target price on shares of Boston Scientific from $87.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, May 28th. Canaccord Genuity Group dropped their target price on shares of Boston Scientific from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Finally, Needham & Company LLC cut their target price on shares of Boston Scientific from $77.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.84.

Insiders Place Their Bets

In related news, Director David C. Habiger acquired 2,250 shares of Boston Scientific stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $55.92 per share, with a total value of $125,820.00. Following the completion of the purchase, the director directly owned 13,878 shares of the company’s stock, valued at $776,057.76. The trade was a 19.35% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Cheryl Pegus acquired 1,770 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the completion of the transaction, the director owned 1,770 shares of the company’s stock, valued at approximately $99,987.30. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 9,800 shares of company stock valued at $554,012 over the last ninety days. 0.34% of the stock is owned by insiders.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $43.14 on Wednesday. Boston Scientific Corporation has a 52 week low of $42.20 and a 52 week high of $109.50. The stock has a market capitalization of $64.12 billion, a P/E ratio of 18.05, a PEG ratio of 0.84 and a beta of 0.58. The firm has a fifty day simple moving average of $47.77 and a two-hundred day simple moving average of $64.93. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.01. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the company earned $0.75 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. On average, analysts expect that Boston Scientific Corporation will post 3.35 earnings per share for the current fiscal year.

Boston Scientific declared that its Board of Directors has approved a stock repurchase plan on Monday, May 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical equipment provider to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.