Public Employees Retirement System of Ohio Decreases Stake in Boston Scientific Co. (NYSE:BSX)

Public Employees Retirement System of Ohio lessened its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 681,492 shares of the medical equipment provider's stock after selling 6,385 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Boston Scientific were worth $60,871,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. TFC Financial Management Inc. raised its holdings in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 210 shares in the last quarter. Colonial Trust Co SC grew its position in Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 260 shares during the last quarter. Investment Management Corp VA ADV purchased a new position in shares of Boston Scientific during the fourth quarter worth approximately $25,000. Valley National Advisers Inc. lifted its holdings in shares of Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock worth $35,000 after acquiring an additional 286 shares during the last quarter. Finally, Fairway Wealth LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Trading Down 0.9%

BSX stock traded down $0.97 during trading on Wednesday, reaching $105.20. The company had a trading volume of 3,085,481 shares, compared to its average volume of 6,383,453. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The business has a 50 day moving average of $100.14 and a 200 day moving average of $97.61. The company has a market cap of $155.64 billion, a P/E ratio of 84.12, a PEG ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm's revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. As a group, sell-side analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Evercore ISI increased their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Barclays raised their price objective on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Wall Street Zen raised Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. UBS Group raised their price target on Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, Piper Sandler lifted their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Twenty-three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $114.87.

Insider Activity

In related news, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the sale, the senior vice president now owns 36,193 shares of the company's stock, valued at $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John Bradley Sorenson sold 4,572 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the sale, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,155 shares of company stock worth $19,556,047. Corporate insiders own 0.50% of the company's stock.

Boston Scientific Company 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.