E. Ohman J or Asset Management AB Trims Holdings in Boston Scientific Co. (NYSE:BSX)

E. Ohman J or Asset Management AB cut its position in shares of Boston Scientific Co. (NYSE:BSX) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 581,945 shares of the medical equipment provider’s stock after selling 78,440 shares during the quarter. Boston Scientific makes up 1.2% of E. Ohman J or Asset Management AB’s investment portfolio, making the stock its 17th largest position. E. Ohman J or Asset Management AB’s holdings in Boston Scientific were worth $51,979,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AustralianSuper Pty Ltd boosted its stake in Boston Scientific by 4,292.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after buying an additional 2,615,903 shares during the last quarter. State Street Corp boosted its position in shares of Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after acquiring an additional 1,389,172 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Boston Scientific by 98.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock valued at $184,810,000 after purchasing an additional 1,091,561 shares during the period. Assenagon Asset Management S.A. increased its position in Boston Scientific by 32.3% during the third quarter. Assenagon Asset Management S.A. now owns 3,897,117 shares of the medical equipment provider’s stock worth $326,578,000 after purchasing an additional 951,580 shares during the last quarter. Finally, Impax Asset Management Group plc raised its stake in Boston Scientific by 17.5% during the third quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after purchasing an additional 815,403 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the sale, the executive vice president now directly owns 29,308 shares in the company, valued at $2,660,580.24. The trade was a 19.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,989 shares of company stock worth $2,702,261 in the last three months. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BSX. Bank of America upped their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Citigroup raised their price objective on Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Mizuho increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Stifel Nicolaus lifted their price target on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $100.39.

Boston Scientific Stock Performance

Shares of BSX stock opened at $103.11 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $93.47 and a two-hundred day moving average of $86.33. The company has a market cap of $151.97 billion, a P/E ratio of 85.22, a PEG ratio of 2.68 and a beta of 0.80. Boston Scientific Co. has a 52 week low of $64.08 and a 52 week high of $104.25.

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.