State of Alaska Department of Revenue Grows Stock Holdings in Boston Scientific Co. (NYSE:BSX)

State of Alaska Department of Revenue increased its stake in shares of Boston Scientific Co. (NYSE:BSXGet Rating) by 10.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 241,326 shares of the medical equipment provider’s stock after buying an additional 21,910 shares during the quarter. State of Alaska Department of Revenue’s holdings in Boston Scientific were worth $8,993,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BSX. Concorde Financial Corp purchased a new position in shares of Boston Scientific during the fourth quarter worth about $34,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in Boston Scientific in the 1st quarter valued at approximately $34,000. Quent Capital LLC purchased a new stake in Boston Scientific in the 4th quarter valued at approximately $35,000. Acadian Asset Management LLC purchased a new stake in Boston Scientific in the 1st quarter valued at approximately $35,000. Finally, Nauset Wealth Management. LLC purchased a new stake in Boston Scientific in the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 90.33% of the company’s stock.

Boston Scientific Trading Down 1.2 %

Shares of Boston Scientific stock opened at $41.70 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.86. Boston Scientific Co. has a 1 year low of $34.98 and a 1 year high of $47.49. The company has a market capitalization of $59.61 billion, a P/E ratio of 71.90, a P/E/G ratio of 2.26 and a beta of 0.85. The business has a 50 day moving average price of $40.51 and a 200 day moving average price of $40.91.

Boston Scientific (NYSE:BSXGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The medical equipment provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. Boston Scientific had a return on equity of 14.58% and a net margin of 7.16%. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.22 billion. During the same period in the previous year, the firm posted $0.40 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Boston Scientific Co. will post 1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BSX. Needham & Company LLC raised Boston Scientific from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Friday, May 27th. Truist Financial lowered their price objective on Boston Scientific from $51.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. BTIG Research lifted their price objective on Boston Scientific from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Canaccord Genuity Group lifted their price objective on Boston Scientific from $43.00 to $45.00 in a report on Thursday, July 28th. Finally, Piper Sandler lifted their price objective on Boston Scientific from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, September 9th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.83.

Insider Buying and Selling

In related news, Director Nelda J. Connors sold 16,088 shares of Boston Scientific stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $41.58, for a total transaction of $668,939.04. Following the completion of the transaction, the director now directly owns 4,877 shares in the company, valued at approximately $202,785.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Boston Scientific news, EVP Eric Francis Yves Thepaut sold 20,676 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $40.99, for a total value of $847,509.24. Following the completion of the transaction, the executive vice president now directly owns 72,486 shares in the company, valued at approximately $2,971,201.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nelda J. Connors sold 16,088 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $41.58, for a total value of $668,939.04. Following the completion of the transaction, the director now owns 4,877 shares of the company’s stock, valued at $202,785.66. The disclosure for this sale can be found here. Insiders sold 66,764 shares of company stock worth $2,718,248 in the last ninety days. Insiders own 0.71% of the company’s stock.

About Boston Scientific

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Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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