State of Alaska Department of Revenue Buys 4,640 Shares of Boston Scientific Corporation (NYSE:BSX)

State of Alaska Department of Revenue grew its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 2.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 172,671 shares of the medical equipment provider's stock after acquiring an additional 4,640 shares during the quarter. State of Alaska Department of Revenue's holdings in Boston Scientific were worth $17,419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BSX. Brighton Jones LLC grew its stake in shares of Boston Scientific by 0.8% in the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after buying an additional 226 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Boston Scientific during the 4th quarter valued at about $33,074,000. Van ECK Associates Corp lifted its holdings in shares of Boston Scientific by 1.9% in the 4th quarter. Van ECK Associates Corp now owns 58,984 shares of the medical equipment provider's stock valued at $5,268,000 after acquiring an additional 1,090 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in Boston Scientific by 40.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock worth $6,529,000 after acquiring an additional 21,173 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC purchased a new position in Boston Scientific in the fourth quarter worth about $278,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Down 0.4%

Shares of NYSE:BSX traded down $0.37 during trading on Thursday, reaching $101.36. 5,188,625 shares of the company were exchanged, compared to its average volume of 6,586,240. The business's fifty day simple moving average is $101.62 and its 200-day simple moving average is $98.98. 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 Corporation has a 12-month low of $71.88 and a 12-month high of $107.17. The firm has a market capitalization of $149.96 billion, a PE ratio of 73.99, a P/E/G ratio of 2.62 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. Boston Scientific's revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 earnings per share. On average, research analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BSX. Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Royal Bank Of Canada boosted their target price on Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Citigroup restated a "buy" rating and issued a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $115.00 price objective on shares of Boston Scientific in a research report on Wednesday, May 28th. Twenty-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $116.09.

Insider Activity

In other news, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the sale, the chief executive officer now owns 1,535,706 shares of the company's stock, valued at approximately $157,379,150.88. This represents a 9.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president now directly owns 36,193 shares in the company, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 411,970 shares of company stock worth $42,406,693. Company 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.