Kentucky Retirement Systems Insurance Trust Fund Sells 4,556 Shares of Boston Scientific Corporation (NYSE:BSX)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 9.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,728 shares of the medical equipment provider's stock after selling 4,556 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Boston Scientific were worth $4,310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new stake in Boston Scientific during the 1st quarter worth approximately $1,203,000. Heartland Bank & Trust Co increased its holdings in Boston Scientific by 9.3% during the 1st quarter. Heartland Bank & Trust Co now owns 9,707 shares of the medical equipment provider's stock worth $979,000 after purchasing an additional 823 shares in the last quarter. Intact Investment Management Inc. increased its holdings in Boston Scientific by 8.2% during the 1st quarter. Intact Investment Management Inc. now owns 5,300 shares of the medical equipment provider's stock worth $535,000 after purchasing an additional 400 shares in the last quarter. Bernardo Wealth Planning LLC increased its holdings in Boston Scientific by 2.9% during the 1st quarter. Bernardo Wealth Planning LLC now owns 4,606 shares of the medical equipment provider's stock worth $465,000 after purchasing an additional 128 shares in the last quarter. Finally, Aspire Private Capital LLC increased its holdings in Boston Scientific by 9.4% during the 1st quarter. Aspire Private Capital LLC now owns 13,267 shares of the medical equipment provider's stock worth $1,338,000 after purchasing an additional 1,135 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BSX has been the subject of a number of recent research reports. Wall Street Zen raised Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Royal Bank Of Canada boosted their price objective on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Barclays upped their target price on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Finally, Truist Financial upped their target price on Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Twenty-two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has a consensus rating of "Buy" and a consensus price target of $116.09.

Boston Scientific Trading Down 0.0%

NYSE:BSX opened at $101.35 on Friday. The company has a market cap of $149.94 billion, a P/E ratio of 73.98, a P/E/G ratio of 2.62 and a beta of 0.68. The stock's fifty day moving average price is $101.77 and its two-hundred day moving average price is $99.11. Boston Scientific Corporation has a 1 year low of $71.88 and a 1 year high of $107.17. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The business's quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 earnings per share. As a group, analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the sale, the executive vice president now owns 22,235 shares in the company, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president now owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This trade represents a 11.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 411,970 shares of company stock worth $42,406,693 in the last ninety days. 0.50% of the stock is currently owned by insiders.

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.

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