Boston Scientific Corporation $BSX Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its position in shares of Boston Scientific Corporation (NYSE:BSX) by 73.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 303,916 shares of the medical equipment provider’s stock after selling 842,932 shares during the period. Retirement Systems of Alabama’s holdings in Boston Scientific were worth $13,266,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BSX. Avantax Planning Partners Inc. grew its holdings in Boston Scientific by 4.0% in the first quarter. Avantax Planning Partners Inc. now owns 5,242 shares of the medical equipment provider’s stock valued at $329,000 after purchasing an additional 201 shares during the period. Natural Investments LLC increased its stake in shares of Boston Scientific by 1.3% during the second quarter. Natural Investments LLC now owns 16,067 shares of the medical equipment provider’s stock worth $685,000 after purchasing an additional 206 shares in the last quarter. MGO One Seven LLC lifted its stake in Boston Scientific by 1.9% in the 3rd quarter. MGO One Seven LLC now owns 14,061 shares of the medical equipment provider’s stock valued at $614,000 after buying an additional 260 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in Boston Scientific by 1.4% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 19,918 shares of the medical equipment provider’s stock worth $870,000 after buying an additional 268 shares in the last quarter. Finally, Frazier Financial Advisors LLC lifted its position in shares of Boston Scientific by 56.3% in the first quarter. Frazier Financial Advisors LLC now owns 758 shares of the medical equipment provider’s stock valued at $48,000 after acquiring an additional 273 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 2.0%

Shares of NYSE BSX opened at $44.22 on Friday. Boston Scientific Corporation has a 52-week low of $39.57 and a 52-week high of $105.65. The business’s 50 day moving average is $44.05 and its two-hundred day moving average is $54.75. The firm has a market cap of $64.10 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.34 and a beta of 0.60. The company has a quick ratio of 0.81, a current ratio of 1.36 and a debt-to-equity ratio of 0.42.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Boston Scientific had a return on equity of 18.61% and a net margin of 16.62%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 EPS. Research analysts predict that Boston Scientific Corporation will post 3.17 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on BSX. Needham & Company LLC decreased their price objective on Boston Scientific from $57.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 28th. Deutsche Bank set a $48.00 price objective on Boston Scientific and gave the stock a “buy” rating in a research report on Thursday, October 29th. Piper Sandler lowered their price objective on Boston Scientific from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 29th. Rothschild & Co Redburn cut their price objective on shares of Boston Scientific from $106.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, Barclays dropped their price target on shares of Boston Scientific from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average target price of $61.43.

About Boston Scientific

Boston Scientific is a medical technology company that develops, manufactures and markets devices used in minimally invasive procedures across a range of medical specialties. Founded in 1979, the company is headquartered in Marlborough, Massachusetts. Its products support areas including cardiovascular care, endoscopy, urology and neuromodulation. They include catheter-based devices and therapies for conditions affecting the heart and blood vessels, as well as devices used in diagnostic and therapeutic procedures involving the digestive and urinary systems.