Retirement Systems of Alabama Sells 3,644 Shares of Boston Scientific Co. (NYSE:BSX)

Retirement Systems of Alabama lowered its position in shares of Boston Scientific Co. (NYSE:BSX) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 319,098 shares of the medical equipment provider’s stock after selling 3,644 shares during the period. Retirement Systems of Alabama’s holdings in Boston Scientific were worth $28,502,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Boston Scientific by 4.4% during the 3rd 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 acquiring an additional 173,034 shares during the period. Mechanics Bank Trust Department purchased a new stake in Boston Scientific in the fourth quarter worth approximately $415,000. Highland Capital Management LLC bought a new stake in Boston Scientific in the 4th quarter worth approximately $4,887,000. Brookstone Capital Management raised its stake in Boston Scientific by 23.7% during the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after buying an additional 20,307 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. lifted its holdings in shares of Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock valued at $1,744,000 after buying an additional 4,702 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction that occurred 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 directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,302 shares of company stock valued at $4,464,725 in the last ninety days. Insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 1.4 %

Shares of BSX stock opened at $104.95 on Thursday. The stock’s 50-day moving average price is $94.01 and its 200-day moving average price is $86.71. Boston Scientific Co. has a 12-month low of $64.08 and a 12-month high of $107.17. The stock has a market capitalization of $154.68 billion, a price-to-earnings ratio of 86.73, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. Equities research analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on BSX. Royal Bank of Canada upped their price objective on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Truist Financial upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Mizuho raised their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Piper Sandler upped their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday. Finally, Citigroup lifted their price target on shares of Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Buy” and a consensus target price of $100.39.

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.