Teachers Retirement System of The State of Kentucky Sells 40,463 Shares of Boston Scientific Co. (NYSE:BSX)

Teachers Retirement System of The State of Kentucky decreased its holdings in Boston Scientific Co. (NYSE:BSX) by 9.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 405,731 shares of the medical equipment provider’s stock after selling 40,463 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Boston Scientific were worth $31,246,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Sierra Summit Advisors LLC bought a new stake in shares of Boston Scientific in the 4th quarter valued at $8,038,000. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Boston Scientific by 225.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after purchasing an additional 73,219 shares during the period. BDF Gestion acquired a new stake in Boston Scientific in the 2nd quarter valued at $3,570,000. Tlwm bought a new stake in Boston Scientific during the 1st quarter valued at $927,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Boston Scientific by 1.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,104,085 shares of the medical equipment provider’s stock worth $63,827,000 after buying an additional 19,999 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BSX has been the subject of a number of analyst reports. TD Cowen increased their price target on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. upped their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Needham & Company LLC lifted their target price on shares of Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Truist Financial upped their target price on Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 price objective on shares of Boston Scientific in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.65.

Boston Scientific Trading Up 0.5 %

Shares of BSX opened at $83.80 on Tuesday. Boston Scientific Co. has a twelve month low of $48.35 and a twelve month high of $84.89. The stock has a market cap of $122.94 billion, a PE ratio of 70.42, a P/E/G ratio of 2.78 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $79.44 and its 200-day moving average price is $75.43.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. On average, equities analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

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.