Maryland State Retirement & Pension System Sells 5,295 Shares of Boston Scientific Co. (NYSE:BSX)

Maryland State Retirement & Pension System lessened its stake in shares of Boston Scientific Co. (NYSE:BSX) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,416 shares of the medical equipment provider’s stock after selling 5,295 shares during the period. Maryland State Retirement & Pension System’s holdings in Boston Scientific were worth $7,093,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after purchasing an additional 173,034 shares during the last quarter. Mechanics Bank Trust Department purchased a new position in Boston Scientific in the fourth quarter worth about $415,000. Highland Capital Management LLC bought a new stake in Boston Scientific during the fourth quarter worth approximately $4,887,000. Covenant Asset Management LLC purchased a new stake in Boston Scientific during the fourth quarter valued at approximately $3,405,000. Finally, Brookstone Capital Management lifted its stake in shares of Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after purchasing an additional 20,307 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now owns 5,502 shares in the company, valued at approximately $560,103.60. This represents a 75.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the transaction, the executive vice president now owns 25,443 shares in the company, valued at approximately $2,704,845.33. This trade represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock valued at $14,319,269 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Friday, January 10th. Royal Bank of Canada increased their price objective on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company boosted their target price on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $108.91.

Boston Scientific Trading Up 1.6 %

NYSE BSX opened at $100.77 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The company’s 50-day simple moving average is $101.45 and its two-hundred day simple moving average is $92.15. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The company has a market capitalization of $148.72 billion, a price-to-earnings ratio of 80.62, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Equities analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Boston Scientific Company 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.