Maryland State Retirement & Pension System Has $7.76 Million Holdings in Boston Scientific Co. (NYSE:BSX)

Maryland State Retirement & Pension System increased its position in Boston Scientific Co. (NYSE:BSX) by 0.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 114,841 shares of the medical equipment provider’s stock after purchasing an additional 973 shares during the period. Maryland State Retirement & Pension System’s holdings in Boston Scientific were worth $7,762,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the transaction, the executive vice president now owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the transaction, the executive vice president now directly owns 45,628 shares in the company, valued at $3,437,157.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward J. Ludwig sold 9,818 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the sale, the director now owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. Insiders have sold 72,259 shares of company stock worth $5,344,014 in the last ninety days. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price objective on shares of Boston Scientific in a research report on Tuesday, June 18th. TD Cowen boosted 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. UBS Group increased their price objective on Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Royal Bank of Canada boosted their target price on Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Evercore ISI raised their price target on Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.41.

Boston Scientific Stock Performance

NYSE:BSX traded down $0.20 during mid-day trading on Friday, hitting $75.91. 415,813 shares of the company’s stock traded hands, compared to its average volume of 6,195,722. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $75.28 and a two-hundred day moving average of $68.07. The firm has a market capitalization of $111.37 billion, a price-to-earnings ratio of 63.96, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $77.99.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.68 billion. On average, equities analysts forecast that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

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.