Louisiana State Employees Retirement System Cuts Stock Position in Boston Scientific Co. (NYSE:BSX)

Louisiana State Employees Retirement System trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,900 shares of the medical equipment provider’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Boston Scientific were worth $6,947,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Legacy Wealth Asset Management LLC boosted its position in shares of Boston Scientific by 2.0% in the third quarter. Legacy Wealth Asset Management LLC now owns 24,508 shares of the medical equipment provider’s stock worth $2,054,000 after buying an additional 472 shares during the period. Trueblood Wealth Management LLC boosted its holdings in Boston Scientific by 14.4% in the 3rd quarter. Trueblood Wealth Management LLC now owns 3,125 shares of the medical equipment provider’s stock worth $262,000 after acquiring an additional 393 shares during the period. Lake Street Advisors Group LLC grew its position in Boston Scientific by 9.0% in the third quarter. Lake Street Advisors Group LLC now owns 7,312 shares of the medical equipment provider’s stock valued at $613,000 after acquiring an additional 604 shares in the last quarter. Cullinan Associates Inc. grew its position in Boston Scientific by 1.8% in the third quarter. Cullinan Associates Inc. now owns 29,000 shares of the medical equipment provider’s stock valued at $2,559,000 after acquiring an additional 500 shares in the last quarter. Finally, Tandem Capital Management Corp ADV raised its stake in shares of Boston Scientific by 0.8% during the third quarter. Tandem Capital Management Corp ADV now owns 58,351 shares of the medical equipment provider’s stock valued at $4,890,000 after purchasing an additional 485 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BSX. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Thursday. Stifel Nicolaus upped their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Wells Fargo & Company increased their price target on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Morgan Stanley raised their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $84.73 on Friday. The stock has a market capitalization of $124.31 billion, a P/E ratio of 71.20, a P/E/G ratio of 2.87 and a beta of 0.80. The firm’s 50-day moving average price is $83.34 and its two-hundred day moving average price is $77.62. Boston Scientific Co. has a 52-week low of $49.15 and a 52-week high of $88.79. 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 announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. As a group, sell-side analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the sale, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 316,253 shares of company stock valued at $26,714,298. 0.50% of the stock is currently owned by company insiders.

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.