Retirement Systems of Alabama Sells 134,634 Shares of Boston Scientific Corporation (BSX)
Retirement Systems of Alabama lessened its holdings in Boston Scientific Corporation (NYSE:BSX) by 9.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,269,784 shares of the medical equipment provider’s stock after selling 134,634 shares during the period. Retirement Systems of Alabama owned 0.09% of Boston Scientific Corporation worth $37,040,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Acrospire Investment Management LLC lifted its holdings in shares of Boston Scientific Corporation by 157.3% in the second quarter. Acrospire Investment Management LLC now owns 5,071 shares of the medical equipment provider’s stock valued at $141,000 after purchasing an additional 3,100 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Boston Scientific Corporation by 14.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,761 shares of the medical equipment provider’s stock valued at $160,000 after purchasing an additional 720 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new stake in shares of Boston Scientific Corporation in the second quarter valued at about $191,000. Peddock Capital Advisors LLC purchased a new stake in shares of Boston Scientific Corporation in the second quarter valued at about $201,000. Finally, Ironwood Investment Counsel LLC purchased a new stake in shares of Boston Scientific Corporation in the third quarter valued at about $204,000. 90.50% of the stock is currently owned by institutional investors.
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Boston Scientific Corporation (NYSE BSX) traded down $0.23 during trading on Monday, hitting $28.36. 6,526,000 shares of the stock traded hands, compared to its average volume of 6,648,832. Boston Scientific Corporation has a 52 week low of $19.67 and a 52 week high of $29.93. The firm has a market capitalization of $38,943.84, a price-to-earnings ratio of 23.25, a P/E/G ratio of 2.19 and a beta of 1.00. The company has a quick ratio of 0.50, a current ratio of 0.72 and a debt-to-equity ratio of 0.58.
Boston Scientific Corporation (NYSE:BSX) last released its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. Boston Scientific Corporation had a net margin of 9.55% and a return on equity of 23.60%. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. sell-side analysts forecast that Boston Scientific Corporation will post 1.25 earnings per share for the current fiscal year.
In other news, EVP Supratim Bose sold 347,137 shares of the stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $29.12, for a total value of $10,108,629.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Maulik Nanavaty sold 57,031 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $27.28, for a total transaction of $1,555,805.68. The disclosure for this sale can be found here. Insiders sold 508,864 shares of company stock valued at $14,581,669 in the last three months. Company insiders own 0.74% of the company’s stock.
Several brokerages have issued reports on BSX. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $31.00 price target on shares of Boston Scientific Corporation in a report on Tuesday, November 7th. Zacks Investment Research downgraded shares of Boston Scientific Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Boston Scientific Corporation in a research note on Wednesday, August 9th. Cowen and Company reissued a “buy” rating and set a $32.00 price objective (up previously from $31.00) on shares of Boston Scientific Corporation in a research note on Friday, July 28th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $32.00 price objective on shares of Boston Scientific Corporation in a research note on Monday, September 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Boston Scientific Corporation has an average rating of “Buy” and a consensus price target of $30.77.
About Boston Scientific Corporation
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.
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