State of Tennessee Department of Treasury Acquires 7,651 Shares of Boston Scientific Co. (NYSE:BSX)

State of Tennessee Department of Treasury lifted its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 549,162 shares of the medical equipment provider's stock after buying an additional 7,651 shares during the period. State of Tennessee Department of Treasury's holdings in Boston Scientific were worth $49,051,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Mechanics Bank Trust Department acquired a new stake in shares of Boston Scientific during the fourth quarter worth about $415,000. Highland Capital Management LLC bought a new stake in shares of Boston Scientific during the fourth quarter worth $4,887,000. Covenant Asset Management LLC bought a new stake in Boston Scientific in the 4th quarter valued at $3,405,000. Brookstone Capital Management boosted its stake in Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock worth $9,455,000 after purchasing an additional 20,307 shares during the period. Finally, Beacon Investment Advisory Services Inc. raised its stake in shares of Boston Scientific by 31.7% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider's stock valued at $1,744,000 after purchasing an additional 4,702 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Activity

In related news, CFO Daniel J. Brennan sold 67,333 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total value of $7,086,124.92. Following the transaction, the chief financial officer now owns 225,808 shares in the company, valued at approximately $23,764,033.92. This trade represents a 22.97 % 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, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares of the company's stock, valued at $3,441,592.37. This represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 138,009 shares of company stock worth $14,407,381. Corporate insiders own 0.50% of the company's stock.

Boston Scientific Stock Performance

BSX traded up $0.82 during trading on Friday, hitting $101.96. The stock had a trading volume of 5,412,875 shares, compared to its average volume of 7,970,439. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The firm has a market cap of $150.81 billion, a price-to-earnings ratio of 81.57, a P/E/G ratio of 2.79 and a beta of 0.73. The company has a 50 day moving average price of $98.75 and a 200-day moving average price of $94.69. Boston Scientific Co. has a one year low of $70.97 and a one year high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. As a group, research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of research reports. Morgan Stanley increased their price objective on Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Piper Sandler boosted their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. BTIG Research reaffirmed a "buy" rating and issued a $124.00 target price on shares of Boston Scientific in a research report on Wednesday. Barclays increased their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, UBS Group lifted their target price on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, February 7th. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of "Buy" and a consensus target price of $114.52.

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.