Arizona State Retirement System grew its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 6.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 455,300 shares of the medical equipment provider's stock after acquiring an additional 29,318 shares during the quarter. Arizona State Retirement System's holdings in Boston Scientific were worth $45,931,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Bank Pictet & Cie Europe AG raised its holdings in Boston Scientific by 40.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock worth $6,529,000 after buying an additional 21,173 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of Boston Scientific by 18.8% during the first quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider's stock worth $3,987,000 after acquiring an additional 6,264 shares in the last quarter. Blue Trust Inc. increased its position in shares of Boston Scientific by 13.0% during the first quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider's stock worth $504,000 after acquiring an additional 575 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Boston Scientific by 109.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider's stock worth $24,126,000 after acquiring an additional 141,398 shares during the period. Finally, Little House Capital LLC bought a new stake in Boston Scientific in the 1st quarter valued at $945,000. 89.07% of the stock is currently owned by institutional investors.
Boston Scientific Stock Performance
Shares of NYSE BSX traded down $0.70 during midday trading on Friday, hitting $103.16. 5,890,147 shares of the company's stock were exchanged, compared to its average volume of 6,701,002. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $152.62 billion, a PE ratio of 75.30, a price-to-earnings-growth ratio of 2.70 and a beta of 0.68. Boston Scientific Corporation has a 12 month low of $71.88 and a 12 month high of $107.53. The company's 50 day moving average price is $103.42 and its 200 day moving average price is $100.53.
Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. The firm had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The company's revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 earnings per share. As a group, analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.
Insider Transactions at Boston Scientific
In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the transaction, the executive vice president directly owned 18,705 shares of the company's stock, valued at $1,955,420.70. This represents a 19.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the transaction, the senior vice president owned 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 461,970 shares of company stock worth $47,755,193. 0.50% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research firms have issued reports on BSX. Leerink Partnrs upgraded Boston Scientific to a "strong-buy" rating in a report on Monday, June 16th. BTIG Research reiterated a "buy" rating and set a $124.00 price objective on shares of Boston Scientific in a report on Wednesday, April 23rd. Morgan Stanley boosted their target price on Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $115.00 price objective on shares of Boston Scientific in a report on Wednesday, May 28th. Twenty-two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Boston Scientific has an average rating of "Buy" and an average price target of $116.09.
Get Our Latest Research Report on BSX
About Boston Scientific
(
Free Report)
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.
Read More
Before you consider Boston Scientific, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Boston Scientific wasn't on the list.
While Boston Scientific currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
