Boston Scientific Corporation $BSX Position Trimmed by Retirement Systems of Alabama

Key Points

• Retirement Systems of Alabama cut its Boston Scientific stake by 73.5% in the third quarter, selling 842,932 shares and ending the period with 303,916 shares worth about $13.3 million.
• Boston Scientific reported quarterly EPS of $0.73, matching analyst expectations, while revenue of $5.14 billion exceeded estimates and rose 1.4% year over year.
• Analysts’ consensus rating was Moderate Buy, with a $61.43 average price target; ratings included 20 Buys, eight Holds, and two Sells.

Retirement Systems of Alabama reduced its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 73.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 303,916 shares of the medical equipment provider's stock after selling 842,932 shares during the quarter. Retirement Systems of Alabama's holdings in Boston Scientific were worth $13,266,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BSX. Avantax Planning Partners Inc. boosted its stake in Boston Scientific by 4.0% during the first quarter. Avantax Planning Partners Inc. now owns 5,242 shares of the medical equipment provider's stock worth $329,000 after buying an additional 201 shares during the period. Natural Investments LLC boosted its stake in shares of Boston Scientific by 1.3% during the 2nd quarter. Natural Investments LLC now owns 16,067 shares of the medical equipment provider's stock worth $685,000 after purchasing an additional 206 shares during the period. MGO One Seven LLC grew its holdings in Boston Scientific by 1.9% during the 3rd quarter. MGO One Seven LLC now owns 14,061 shares of the medical equipment provider's stock valued at $614,000 after purchasing an additional 260 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Boston Scientific by 1.4% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 19,918 shares of the medical equipment provider's stock worth $870,000 after purchasing an additional 268 shares during the last quarter. Finally, Frazier Financial Advisors LLC grew its stake in shares of Boston Scientific by 56.3% during the first quarter. Frazier Financial Advisors LLC now owns 758 shares of the medical equipment provider's stock valued at $48,000 after buying an additional 273 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Boston Scientific Stock Performance

Shares of BSX opened at $44.22 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42. The firm has a market cap of $64.10 billion, a PE ratio of 18.74, a P/E/G ratio of 1.34 and a beta of 0.60. Boston Scientific Corporation has a 12 month low of $39.57 and a 12 month high of $105.65. The stock has a fifty day moving average price of $44.05 and a 200-day moving average price of $54.75.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share for the quarter, hitting the consensus estimate of $0.73. The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Boston Scientific had a return on equity of 18.61% and a net margin of 16.62%. The company's quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. Equities research analysts predict that Boston Scientific Corporation will post 3.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BSX has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Boston Scientific in a research report on Friday, October 2nd. Oppenheimer cut Boston Scientific from an "outperform" rating to a "market perform" rating in a research note on Thursday, October 29th. Truist Financial decreased their target price on Boston Scientific from $57.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday, October 14th. Needham & Company LLC cut their price target on Boston Scientific from $57.00 to $48.00 and set a "buy" rating on the stock in a research note on Wednesday, October 28th. Finally, Sanford C. Bernstein dropped their target price on shares of Boston Scientific from $54.00 to $49.00 and set an "outperform" rating on the stock in a report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.43.

Boston Scientific Company Profile

Boston Scientific is a medical technology company that develops, manufactures and markets devices used in minimally invasive procedures across a range of medical specialties. Founded in 1979, the company is headquartered in Marlborough, Massachusetts. Its products support areas including cardiovascular care, endoscopy, urology and neuromodulation. They include catheter-based devices and therapies for conditions affecting the heart and blood vessels, as well as devices used in diagnostic and therapeutic procedures involving the digestive and urinary systems.

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