Boston Scientific Co. (NYSE:BSX) Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 113,868 shares of the medical equipment provider’s stock after purchasing an additional 3,282 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Boston Scientific were worth $6,583,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in Boston Scientific by 5.6% during the 3rd quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock valued at $27,353,000 after purchasing an additional 27,620 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Boston Scientific during the 4th quarter worth $5,116,000. Glenmede Trust Co. NA boosted its stake in shares of Boston Scientific by 12.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after acquiring an additional 1,123 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Boston Scientific by 2.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock worth $98,683,000 after acquiring an additional 38,249 shares in the last quarter. Finally, HealthInvest Partners AB bought a new stake in shares of Boston Scientific during the 4th quarter worth $3,746,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded down $0.30 during midday trading on Monday, hitting $72.55. The company’s stock had a trading volume of 4,922,822 shares, compared to its average volume of 6,641,671. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $74.39. The stock has a market capitalization of $106.44 billion, a price-to-earnings ratio of 60.97, a PEG ratio of 2.51 and a beta of 0.77. The stock’s 50 day simple moving average is $68.54 and its 200 day simple moving average is $61.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 17,587 shares of Boston Scientific stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,620,617. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 17,587 shares of Boston Scientific stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The disclosure for this sale can be found here. Insiders have sold a total of 78,384 shares of company stock valued at $5,395,560 over the last three months. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group raised their price objective on Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft increased their target price on Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Royal Bank of Canada increased their target price on Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Mizuho increased their target price on Boston Scientific from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, Barclays increased their target price on Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $75.09.

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.