Public Employees Retirement Association of Colorado trimmed its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,602,436 shares of the medical equipment provider's stock after selling 65,520 shares during the period. Public Employees Retirement Association of Colorado owned 0.11% of Boston Scientific worth $143,130,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in BSX. Parnassus Investments LLC boosted its stake in Boston Scientific by 0.7% during the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock valued at $1,327,000 after purchasing an additional 97 shares during the last quarter. Evergreen Capital Management LLC raised its position in Boston Scientific by 1.7% in the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock worth $565,000 after buying an additional 106 shares during the last quarter. PDS Planning Inc lifted its stake in Boston Scientific by 1.5% during the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock valued at $668,000 after acquiring an additional 113 shares during the period. Adero Partners LLC boosted its holdings in shares of Boston Scientific by 3.3% during the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock valued at $334,000 after acquiring an additional 120 shares during the last quarter. Finally, Tradition Wealth Management LLC grew its stake in shares of Boston Scientific by 2.2% in the fourth quarter. Tradition Wealth Management LLC now owns 5,510 shares of the medical equipment provider's stock worth $492,000 after acquiring an additional 121 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have commented on BSX. Wells Fargo & Company lifted their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Piper Sandler lifted their price objective on Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Truist Financial raised their target price on Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Stifel Nicolaus boosted their price target on Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, BTIG Research reiterated a "buy" rating and issued a $124.00 price objective on shares of Boston Scientific in a research note on Wednesday, April 23rd. Twenty-three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $114.52.
Check Out Our Latest Stock Analysis on BSX
Boston Scientific Price Performance
Shares of BSX stock traded up $1.90 during mid-day trading on Friday, hitting $105.09. The company had a trading volume of 3,558,598 shares, compared to its average volume of 6,337,390. The company has a market capitalization of $155.44 billion, a P/E ratio of 84.07, a P/E/G ratio of 2.79 and a beta of 0.73. The stock's 50 day moving average price is $98.51 and its 200-day moving average price is $95.24. Boston Scientific Co. has a 52-week low of $70.97 and a 52-week high of $107.17. 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 (NYSE:BSX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business's quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. Equities research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.
Insider Transactions at Boston Scientific
In other Boston Scientific news, EVP John Bradley Sorenson sold 1,201 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the completion of the transaction, the executive vice president now owns 25,443 shares in the company, valued at $2,704,845.33. This trade represents a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the sale, the executive vice president now owns 5,502 shares in the company, valued at $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,009 shares of company stock valued at $14,407,381 in the last ninety days. Corporate insiders own 0.50% of the company's stock.
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.
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