Kentucky Retirement Systems Has $8.60 Million Holdings in Boston Scientific Co. (NYSE:BSX)

Kentucky Retirement Systems trimmed its stake in Boston Scientific Co. (NYSE:BSX) by 7.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,591 shares of the medical equipment provider’s stock after selling 8,196 shares during the period. Kentucky Retirement Systems’ holdings in Boston Scientific were worth $8,597,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BSX. CRA Financial Services LLC lifted its position in shares of Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 117 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of Boston Scientific by 9.7% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after purchasing an additional 119 shares during the period. Ashton Thomas Securities LLC boosted its position in shares of Boston Scientific by 1.3% during the 3rd quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after purchasing an additional 129 shares in the last quarter. CVA Family Office LLC grew its stake in Boston Scientific by 7.4% during the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after purchasing an additional 131 shares during the period. Finally, Jacobsen Capital Management lifted its stake in Boston Scientific by 4.9% in the third quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider’s stock valued at $236,000 after buying an additional 133 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Down 0.7 %

Shares of NYSE BSX opened at $86.98 on Friday. The stock has a market capitalization of $128.19 billion, a P/E ratio of 71.88, a PEG ratio of 2.61 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a one year low of $53.56 and a one year high of $89.30. The firm’s 50 day simple moving average is $85.26 and its two-hundred day simple moving average is $79.49.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share. As a group, analysts expect that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 15.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 309,270 shares of company stock worth $26,196,718 in the last ninety days. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BSX. Bank of America increased their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Canaccord Genuity Group raised their price objective on Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Raymond James increased their target price on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 4th. Robert W. Baird boosted their price target on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Truist Financial lifted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and a consensus price target of $93.39.

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.