Strs Ohio Increases Stock Holdings in Boston Scientific Co. (NYSE:BSX)
Strs Ohio raised its stake in Boston Scientific Co. (NYSE:BSX) by 117.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,455,691 shares of the medical equipment provider’s stock after purchasing an additional 785,957 shares during the period. Strs Ohio’s holdings in Boston Scientific were worth $65,826,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in BSX. NuWave Investment Management LLC increased its stake in Boston Scientific by 111.4% in the third quarter. NuWave Investment Management LLC now owns 721 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 380 shares during the last quarter. Optimum Investment Advisors grew its position in shares of Boston Scientific by 100.0% during the third quarter. Optimum Investment Advisors now owns 800 shares of the medical equipment provider’s stock worth $33,000 after acquiring an additional 400 shares during the last quarter. OLD Second National Bank of Aurora purchased a new position in shares of Boston Scientific during the fourth quarter worth approximately $33,000. Executive Wealth Management LLC grew its position in shares of Boston Scientific by 58.8% during the third quarter. Executive Wealth Management LLC now owns 1,151 shares of the medical equipment provider’s stock worth $46,000 after acquiring an additional 426 shares during the last quarter. Finally, Evoke Wealth LLC purchased a new position in shares of Boston Scientific during the third quarter worth approximately $47,000. Institutional investors own 91.11% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Boston Scientific from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Stephens set a $48.00 price objective on shares of Boston Scientific and gave the company a “buy” rating in a research report on Monday, September 30th. Piper Sandler reiterated a “buy” rating on shares of Boston Scientific in a research report on Tuesday, January 14th. Wells Fargo & Co lifted their price objective on shares of Boston Scientific from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, Cowen reiterated a “buy” rating and issued a $52.00 price objective on shares of Boston Scientific in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $48.62.
Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Boston Scientific had a return on equity of 23.10% and a net margin of 10.49%. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter last year, the company earned $0.35 earnings per share. Boston Scientific’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities analysts predict that Boston Scientific Co. will post 1.57 earnings per share for the current year.
In other news, SVP Desiree Ralls-Morrison sold 4,050 shares of Boston Scientific stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.50, for a total transaction of $184,275.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeffrey B. Mirviss sold 23,077 shares of Boston Scientific stock in a transaction on Friday, January 17th. The stock was sold at an average price of $44.00, for a total value of $1,015,388.00. Following the transaction, the senior vice president now directly owns 123,561 shares of the company’s stock, valued at approximately $5,436,684. The disclosure for this sale can be found here. In the last three months, insiders sold 218,828 shares of company stock valued at $9,695,889. 0.66% of the stock is owned by corporate insiders.
About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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