Retirement Systems of Alabama Decreases Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Retirement Systems of Alabama lessened its stake in Boston Scientific Co. (NYSE:BSX) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 319,098 shares of the medical equipment provider’s stock after selling 3,644 shares during the period. Retirement Systems of Alabama’s holdings in Boston Scientific were worth $28,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in BSX. Czech National Bank boosted its stake in Boston Scientific by 7.1% in the third quarter. Czech National Bank now owns 299,989 shares of the medical equipment provider’s stock valued at $25,139,000 after acquiring an additional 19,833 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in shares of Boston Scientific by 4.0% during the 3rd quarter. Miracle Mile Advisors LLC now owns 5,252 shares of the medical equipment provider’s stock valued at $440,000 after purchasing an additional 203 shares during the last quarter. Atomi Financial Group Inc. grew its stake in Boston Scientific by 13.7% during the 3rd quarter. Atomi Financial Group Inc. now owns 8,266 shares of the medical equipment provider’s stock worth $693,000 after buying an additional 997 shares during the last quarter. Country Trust Bank acquired a new position in Boston Scientific during the 3rd quarter valued at about $383,000. Finally, Brookstone Capital Management raised its stake in Boston Scientific by 22.3% in the third quarter. Brookstone Capital Management now owns 85,553 shares of the medical equipment provider’s stock valued at $7,169,000 after buying an additional 15,608 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Trading Up 1.4 %

BSX stock opened at $104.95 on Thursday. The firm has a market cap of $154.68 billion, a P/E ratio of 86.73, a PEG ratio of 2.68 and a beta of 0.80. Boston Scientific Co. has a 52-week low of $64.08 and a 52-week high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company’s 50-day simple moving average is $94.01 and its 200-day simple moving average is $86.71.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. As a group, equities analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BSX. Truist Financial boosted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Wells Fargo & Company upped their price target on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Finally, Canaccord Genuity Group lifted their price target on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $100.39.

Insider Buying and Selling at Boston Scientific

In other news, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,302 shares of company stock worth $4,464,725. Insiders own 0.50% of the company’s stock.

About Boston Scientific

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.