Louisiana State Employees Retirement System Acquires New Stake in Boston Scientific Co. (NYSE:BSX)

Louisiana State Employees Retirement System bought a new position in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 88,500 shares of the medical equipment provider’s stock, valued at approximately $5,116,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new stake in Boston Scientific during the fourth quarter valued at approximately $28,000. Sunbelt Securities Inc. purchased a new stake in shares of Boston Scientific during the 1st quarter valued at $32,000. Motco lifted its holdings in shares of Boston Scientific by 136.3% during the 3rd quarter. Motco now owns 645 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 372 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Boston Scientific by 58.0% in the fourth quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock valued at $34,000 after acquiring an additional 215 shares during the last quarter. Finally, Coppell Advisory Solutions LLC purchased a new stake in Boston Scientific during the second quarter valued at about $34,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BSX shares. TD Cowen upped their price objective on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Citigroup lifted their price target on shares of Boston Scientific from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. BTIG Research reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Boston Scientific in a research note on Friday, December 29th. Truist Financial lifted their target price on shares of Boston Scientific from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, December 22nd. Finally, Wells Fargo & Company upped their price target on shares of Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.14.

Boston Scientific Stock Down 1.1 %

BSX traded down $0.77 on Friday, hitting $68.07. The company had a trading volume of 4,995,155 shares, compared to its average volume of 4,947,475. The stock has a fifty day simple moving average of $66.99 and a 200-day simple moving average of $59.37. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The firm has a market capitalization of $99.87 billion, a P/E ratio of 63.62, a P/E/G ratio of 2.38 and a beta of 0.78. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $69.21.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same quarter last year, the business posted $0.45 EPS. As a group, equities analysts expect that Boston Scientific Co. will post 2.25 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the transaction, the chief financial officer now owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock valued at $3,418,529 in the last three months. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Profile

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.