Boston Scientific Co. (NYSE:BSX) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System boosted its stake in Boston Scientific Co. (NYSE:BSX) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 401,408 shares of the medical equipment provider’s stock after purchasing an additional 500 shares during the period. State of Michigan Retirement System’s holdings in Boston Scientific were worth $27,492,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC acquired a new stake in Boston Scientific during the 4th quarter valued at $28,000. Northwest Investment Counselors LLC purchased a new position in Boston Scientific in the 1st quarter valued at about $31,000. Sachetta LLC acquired a new stake in shares of Boston Scientific during the fourth quarter valued at about $32,000. Frazier Financial Advisors LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $32,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Boston Scientific by 53.0% in the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 193 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Up 0.2 %

BSX stock opened at $76.55 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $75.01 and its 200 day simple moving average is $67.81. The stock has a market cap of $112.30 billion, a PE ratio of 64.32, a price-to-earnings-growth ratio of 2.65 and a beta of 0.78. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $77.99.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.68 billion. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.32 EPS for the current year.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the sale, the executive vice president now directly owns 42,908 shares in the company, valued at $3,316,788.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the transaction, the executive vice president now owns 42,908 shares in the company, valued at $3,316,788.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the sale, the executive vice president now owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,259 shares of company stock valued at $5,344,014. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BSX has been the topic of several analyst reports. Royal Bank of Canada lifted their price objective on Boston Scientific from $78.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. TD Cowen upped their price target on shares of Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Needham & Company LLC reissued a “buy” rating and set a $82.00 price objective on shares of Boston Scientific in a report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, UBS Group increased their price target on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $77.41.

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.