Kentucky Retirement Systems Insurance Trust Fund Has $3.65 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in Boston Scientific Co. (NYSE:BSX) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,601 shares of the medical equipment provider’s stock after selling 3,818 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Boston Scientific were worth $3,654,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BSX. Capital World Investors increased its stake in Boston Scientific by 69.9% in the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after acquiring an additional 6,588,256 shares during the last quarter. Marshall Wace LLP lifted its holdings in Boston Scientific by 115.9% during the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after buying an additional 3,608,158 shares during the period. Capital Research Global Investors bought a new stake in shares of Boston Scientific in the 1st quarter valued at about $182,897,000. AustralianSuper Pty Ltd raised its position in shares of Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after acquiring an additional 2,615,903 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after acquiring an additional 1,824,405 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

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

Boston Scientific Trading Down 0.7 %

NYSE:BSX opened at $86.98 on Friday. Boston Scientific Co. has a 12 month low of $53.56 and a 12 month high of $89.30. 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 firm’s 50 day moving average is $85.26 and its 200 day moving average is $79.49. The stock has a market capitalization of $128.19 billion, a PE ratio of 71.88, a price-to-earnings-growth ratio of 2.61 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $4.04 billion. During the same period in the previous year, the company posted $0.50 earnings per share. The business’s revenue was up 19.3% on a year-over-year basis. Sell-side analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analyst Ratings Changes

BSX has been the topic of several recent analyst reports. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley lifted their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Thursday, October 31st. Finally, Raymond James boosted their price objective on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.39.

About Boston Scientific

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.