Retirement Systems of Alabama Has $31.95 Million Position in Boston Scientific Corporation (NYSE:BSX)

Retirement Systems of Alabama reduced its holdings in Boston Scientific Corporation (NYSE:BSX) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 316,710 shares of the medical equipment provider’s stock after selling 2,388 shares during the quarter. Retirement Systems of Alabama’s holdings in Boston Scientific were worth $31,950,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank Pictet & Cie Europe AG grew its position in shares of Boston Scientific by 40.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider’s stock valued at $6,529,000 after purchasing an additional 21,173 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Boston Scientific by 13.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 184,802 shares of the medical equipment provider’s stock worth $16,507,000 after purchasing an additional 22,504 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of Boston Scientific during the 4th quarter worth about $33,074,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Boston Scientific by 109.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider’s stock worth $24,126,000 after purchasing an additional 141,398 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Boston Scientific by 5.3% during the 4th quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider’s stock worth $1,477,307,000 after purchasing an additional 832,386 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Boston Scientific

In other news, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president now directly owns 36,193 shares in the company, valued at approximately $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the transaction, the chief executive officer now owns 1,535,706 shares in the company, valued at $157,379,150.88. The trade was a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 411,970 shares of company stock worth $42,406,693. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Evercore ISI boosted their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Robert W. Baird boosted their price objective on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Citigroup reissued a “buy” rating and issued a $125.00 target price (up previously from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Twenty-two analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $116.09.

Boston Scientific Price Performance

NYSE:BSX opened at $101.35 on Friday. The firm has a market cap of $149.95 billion, a PE ratio of 73.98, a price-to-earnings-growth ratio of 2.62 and a beta of 0.68. Boston Scientific Corporation has a 12 month low of $71.88 and a 12 month high of $107.17. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $101.77 and its two-hundred day moving average price is $99.06.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the business earned $0.56 earnings per share. Boston Scientific’s quarterly revenue was up 20.9% on a year-over-year basis. On average, equities analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Boston Scientific 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.