Kentucky Retirement Systems Sells 468 Shares of Boston Scientific Co. (NYSE:BSX)

Kentucky Retirement Systems lessened its position in shares of Boston Scientific Co. (NYSE:BSX) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,787 shares of the medical equipment provider’s stock after selling 468 shares during the period. Kentucky Retirement Systems’ holdings in Boston Scientific were worth $8,532,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eagle Bay Advisors LLC increased its holdings in shares of Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares during the period. First Foundation Advisors purchased a new position in Boston Scientific during the first quarter worth about $25,000. Triad Wealth Partners LLC bought a new position in Boston Scientific in the 2nd quarter worth about $26,000. Andra AP fonden purchased a new stake in shares of Boston Scientific in the 2nd quarter valued at about $29,000. Finally, RiverPark Advisors LLC bought a new stake in shares of Boston Scientific during the 1st quarter valued at about $30,000. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold 20,949 shares of company stock valued at $1,627,877 over the last quarter. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BSX. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price objective on shares of Boston Scientific in a research report on Thursday, July 25th. Barclays boosted their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Raymond James raised their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 4th. Robert W. Baird upped their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group began coverage on Boston Scientific in a research note on Thursday, May 30th. They set a “buy” rating and a $90.00 price target for the company. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $85.38.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $82.57 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The company has a market cap of $121.14 billion, a price-to-earnings ratio of 69.39, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $84.11. The company has a 50-day moving average price of $78.46 and a 200-day moving average price of $74.45.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 EPS. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current year.

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.