Great Lakes Retirement Inc. Has $1.95 Million Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Great Lakes Retirement Inc. lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 40.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,319 shares of the medical equipment provider’s stock after buying an additional 6,667 shares during the period. Great Lakes Retirement Inc.’s holdings in Boston Scientific were worth $1,954,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Eagle Bay Advisors LLC raised its stake in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 309 shares during the period. First Foundation Advisors purchased a new position in Boston Scientific in the 1st quarter worth approximately $25,000. Triad Wealth Partners LLC bought a new position in Boston Scientific in the second quarter valued at $26,000. Andra AP fonden bought a new position in shares of Boston Scientific during the 2nd quarter valued at about $29,000. Finally, RiverPark Advisors LLC bought a new position in Boston Scientific during the first quarter valued at approximately $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Down 0.6 %

BSX stock opened at $87.45 on Thursday. The company has a market capitalization of $128.30 billion, a price-to-earnings ratio of 73.49, a PEG ratio of 2.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. Boston Scientific Co. has a 1-year low of $49.15 and a 1-year high of $88.79. The business has a 50 day simple moving average of $83.19 and a two-hundred day simple moving average of $77.57.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. Research analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 316,253 shares of company stock worth $26,714,298. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

BSX has been the subject of several recent research reports. Citigroup boosted their price objective on Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Bank of America upped their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Needham & Company LLC lowered shares of Boston Scientific from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $90.68.

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.