Public Employees Retirement System of Ohio Has $60.87 Million Holdings in Boston Scientific Co. (NYSE:BSX)

Public Employees Retirement System of Ohio cut its holdings in Boston Scientific Co. (NYSE:BSX) by 0.9% during the 4th quarter, HoldingsChannel reports. The fund owned 681,492 shares of the medical equipment provider’s stock after selling 6,385 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Boston Scientific were worth $60,871,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Highland Capital Management LLC acquired a new position in shares of Boston Scientific in the fourth quarter valued at about $4,887,000. Covenant Asset Management LLC acquired a new position in shares of Boston Scientific in the fourth quarter valued at about $3,405,000. Beacon Investment Advisory Services Inc. lifted its position in Boston Scientific by 31.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after purchasing an additional 4,702 shares during the period. Oak Harvest Investment Services lifted its position in Boston Scientific by 262.5% during the fourth quarter. Oak Harvest Investment Services now owns 40,776 shares of the medical equipment provider’s stock worth $3,642,000 after purchasing an additional 29,526 shares during the period. Finally, Blue Trust Inc. lifted its position in Boston Scientific by 43.7% during the fourth quarter. Blue Trust Inc. now owns 15,077 shares of the medical equipment provider’s stock worth $1,263,000 after purchasing an additional 4,585 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BSX has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Wells Fargo & Company upped their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Erste Group Bank raised shares of Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. Raymond James upped their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. Finally, Stifel Nicolaus upped their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Twenty-three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific has an average rating of “Buy” and a consensus price target of $114.87.

Boston Scientific Stock Performance

Boston Scientific stock opened at $104.42 on Friday. The business has a 50 day moving average of $99.87 and a 200-day moving average of $97.16. Boston Scientific Co. has a 1 year low of $71.88 and a 1 year high of $107.17. 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 company has a market capitalization of $154.48 billion, a P/E ratio of 83.54, a P/E/G ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The firm’s revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Activity

In other news, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares of the company’s stock, valued at $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,314 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the transaction, the executive vice president now directly owns 22,235 shares of the company’s stock, valued at $2,269,304.10. This represents a 43.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,830 shares of company stock valued at $20,043,415 over the last quarter. 0.50% of the stock is owned by company insiders.

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.