State of Michigan Retirement System Raises Stake in Boston Scientific Corporation $BSX

State of Michigan Retirement System boosted its position in Boston Scientific Corporation (NYSE:BSX) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 402,308 shares of the medical equipment provider’s stock after buying an additional 2,500 shares during the period. State of Michigan Retirement System’s holdings in Boston Scientific were worth $43,212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of BSX. Bessemer Group Inc. boosted its position in Boston Scientific by 14,391.8% in the second quarter. Bessemer Group Inc. now owns 2,919,801 shares of the medical equipment provider’s stock valued at $313,618,000 after buying an additional 2,899,653 shares during the last quarter. Vanguard Group Inc. boosted its position in Boston Scientific by 1.3% in the first quarter. Vanguard Group Inc. now owns 134,588,729 shares of the medical equipment provider’s stock valued at $13,577,311,000 after buying an additional 1,697,945 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Boston Scientific by 18.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,610,487 shares of the medical equipment provider’s stock valued at $1,070,387,000 after buying an additional 1,664,108 shares during the last quarter. Swedbank AB boosted its position in Boston Scientific by 114.5% in the second quarter. Swedbank AB now owns 2,819,249 shares of the medical equipment provider’s stock valued at $302,816,000 after buying an additional 1,505,019 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Boston Scientific by 10.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,143,332 shares of the medical equipment provider’s stock worth $1,426,779,000 after purchasing an additional 1,383,524 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In related news, Director Ellen M. Zane sold 9,990 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.13, for a total value of $1,010,288.70. Following the completion of the transaction, the director directly owned 27,035 shares of the company’s stock, valued at approximately $2,734,049.55. This represents a 26.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $98.47, for a total value of $4,923,500.00. Following the completion of the transaction, the executive vice president directly owned 178,342 shares of the company’s stock, valued at approximately $17,561,336.74. This represents a 21.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 112,891 shares of company stock valued at $11,501,887. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Trading Up 0.2%

Shares of NYSE:BSX opened at $100.81 on Friday. Boston Scientific Corporation has a 1 year low of $83.38 and a 1 year high of $109.50. The firm has a market capitalization of $149.37 billion, a price-to-earnings ratio of 53.91, a price-to-earnings-growth ratio of 2.02 and a beta of 0.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 0.82. The business’s 50 day moving average price is $100.76 and its 200-day moving average price is $102.35.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. Boston Scientific had a return on equity of 19.74% and a net margin of 14.43%.The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same quarter last year, the firm posted $0.63 EPS. The business’s revenue was up 20.3% on a year-over-year basis. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS. Q4 2025 guidance at 0.770-0.790 EPS. On average, equities research analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BSX has been the topic of several recent research reports. Canaccord Genuity Group restated a “buy” rating and issued a $132.00 price objective on shares of Boston Scientific in a research report on Thursday, October 23rd. The Goldman Sachs Group restated a “buy” rating and issued a $124.00 price objective on shares of Boston Scientific in a research report on Wednesday, October 22nd. Morgan Stanley upped their price objective on Boston Scientific from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Raymond James Financial upped their price objective on Boston Scientific from $121.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 24th. Finally, Barclays upped their price objective on Boston Scientific from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $123.77.

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.