Boston Scientific Co. (NYSE:BSX) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 7.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,591 shares of the medical equipment provider's stock after selling 8,196 shares during the quarter. Kentucky Retirement Systems' holdings in Boston Scientific were worth $8,597,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. First Foundation Advisors purchased a new stake in Boston Scientific in the 1st quarter valued at $25,000. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific during the second quarter worth about $26,000. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific during the third quarter worth about $28,000. Andra AP fonden purchased a new position in shares of Boston Scientific during the second quarter worth about $29,000. Finally, Lynx Investment Advisory acquired a new position in Boston Scientific in the 2nd quarter valued at about $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of BSX stock traded down $0.60 during trading hours on Friday, hitting $86.99. The company's stock had a trading volume of 10,230,145 shares, compared to its average volume of 6,083,564. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $85.26 and a 200-day moving average of $79.49. Boston Scientific Co. has a twelve month low of $53.56 and a twelve month high of $89.30. The stock has a market cap of $128.21 billion, a price-to-earnings ratio of 71.88, a P/E/G ratio of 2.61 and a beta of 0.79.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion for the quarter, compared to analysts' expectations of $4.04 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. Boston Scientific's quarterly revenue was up 19.3% on a year-over-year basis. As a group, equities research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. The trade was a 15.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Robert W. Baird lifted their target price on Boston Scientific from $90.00 to $91.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Morgan Stanley boosted their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Canaccord Genuity Group raised their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a "hold" rating in a research note on Thursday, July 25th. Finally, Sanford C. Bernstein raised their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $93.39.

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.