Boston Scientific Co. (NYSE:BSX) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lowered its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.2% in the second quarter, Holdings Channel reports. The firm owned 132,193 shares of the medical equipment provider’s stock after selling 1,665 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Boston Scientific were worth $10,180,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BSX. Putnam Investments LLC increased its stake in Boston Scientific by 110.5% during the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after buying an additional 6,859,280 shares in the last quarter. Capital World Investors boosted its stake in shares of Boston Scientific by 236.1% in the fourth quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after acquiring an additional 6,617,360 shares during the last quarter. Capital Research Global Investors purchased a new stake in shares of Boston Scientific during the first quarter worth approximately $182,897,000. Vanguard Group Inc. raised its stake in Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after purchasing an additional 1,988,082 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in Boston Scientific by 11,484.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,705,468 shares of the medical equipment provider’s stock valued at $98,593,000 after purchasing an additional 1,690,746 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders sold 20,949 shares of company stock valued at $1,627,877. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Stock Down 1.2 %

NYSE:BSX opened at $82.52 on Wednesday. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $84.11. The stock’s fifty day moving average is $78.35 and its two-hundred day moving average is $74.39. The stock has a market capitalization of $121.06 billion, a price-to-earnings ratio of 69.34, a price-to-earnings-growth ratio of 2.75 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.

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 firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. Boston Scientific’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. Research analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BSX shares. Evercore ISI increased their target price on shares of Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Argus boosted their target price on Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Robert W. Baird lifted their price objective on Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 target price on shares of Boston Scientific in a report on Thursday, July 25th. Finally, Truist Financial lifted their price target on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

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.