Rhenman & Partners Asset Management AB Purchases 20,000 Shares of Boston Scientific Co. (NYSE:BSX)

Rhenman & Partners Asset Management AB grew its position in shares of Boston Scientific Co. (NYSE:BSX) by 5.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 387,908 shares of the medical equipment provider’s stock after buying an additional 20,000 shares during the quarter. Boston Scientific comprises about 1.8% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 21st largest position. Rhenman & Partners Asset Management AB’s holdings in Boston Scientific were worth $16,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Investors Research Corp raised its stake in shares of Boston Scientific by 333.3% during the second quarter. Investors Research Corp now owns 650 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 500 shares during the last quarter. NEXT Financial Group Inc raised its stake in Boston Scientific by 222.3% in the second quarter. NEXT Financial Group Inc now owns 780 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 538 shares in the last quarter. Essex Savings Bank bought a new position in Boston Scientific in the first quarter worth about $31,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in Boston Scientific by 60.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 800 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 300 shares in the last quarter. Finally, Hanson McClain Inc. raised its stake in Boston Scientific by 107.6% in the first quarter. Hanson McClain Inc. now owns 903 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 468 shares in the last quarter. 90.69% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP John Bradley Sorenson sold 3,728 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $42.30, for a total value of $157,694.40. Following the sale, the senior vice president now owns 48,385 shares in the company, valued at $2,046,685.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xin Warren Wang sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $38.45, for a total transaction of $384,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,327 shares of company stock worth $2,253,566. Corporate insiders own 0.66% of the company’s stock.

Shares of NYSE BSX traded down $0.17 on Friday, reaching $42.44. 2,217,827 shares of the company’s stock traded hands, compared to its average volume of 5,449,821. Boston Scientific Co. has a 12 month low of $31.56 and a 12 month high of $43.66. The company has a 50 day moving average of $42.17. The stock has a market cap of $59.60 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.80. The company has a current ratio of 1.39, a quick ratio of 1.12 and a debt-to-equity ratio of 0.82.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. Boston Scientific had a net margin of 13.85% and a return on equity of 23.74%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts expect that Boston Scientific Co. will post 1.56 earnings per share for the current year.

A number of equities analysts recently issued reports on BSX shares. Wells Fargo & Co increased their price target on shares of Boston Scientific from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 18th. Stifel Nicolaus increased their price target on shares of Boston Scientific from $44.00 to $46.00 and gave the stock an “in-line” rating in a research note on Thursday, June 27th. Piper Jaffray Companies set a $50.00 price target on shares of Boston Scientific and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Raymond James increased their price target on shares of Boston Scientific from $48.00 to $50.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Finally, Canaccord Genuity increased their price target on shares of Boston Scientific from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $44.91.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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