Public Employees Retirement Association of Colorado Reduces Stock Position in Boston Scientific Co. (NYSE:BSX)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,956,295 shares of the medical equipment provider’s stock after selling 23,101 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.14% of Boston Scientific worth $83,651,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the stock. Samalin Investment Counsel LLC bought a new stake in Boston Scientific during the second quarter worth approximately $25,000. Albion Financial Group UT bought a new position in shares of Boston Scientific during the 2nd quarter valued at approximately $29,000. Cypress Point Wealth Management LLC purchased a new stake in Boston Scientific during the 2nd quarter valued at $30,000. Bbva USA bought a new stake in Boston Scientific in the second quarter worth $36,000. Finally, Credit Agricole S A purchased a new position in Boston Scientific during the first quarter worth $39,000. 89.80% of the stock is owned by hedge funds and other institutional investors.

Shares of BSX traded up $1.31 during mid-day trading on Thursday, hitting $43.10. The company’s stock had a trading volume of 147,849 shares, compared to its average volume of 7,667,059. The company’s 50-day moving average is $44.17 and its 200-day moving average is $43.02. Boston Scientific Co. has a 52-week low of $32.99 and a 52-week high of $46.28. The firm has a market capitalization of $61.37 billion, a price-to-earnings ratio of 126.64, a PEG ratio of 2.93 and a beta of 0.88. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 0.55.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Monday, July 26th. The medical equipment provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.03. Boston Scientific had a net margin of 4.56% and a return on equity of 12.67%. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the company earned $0.08 EPS. The company’s revenue was up 53.6% compared to the same quarter last year. As a group, sell-side analysts predict that Boston Scientific Co. will post 1.61 earnings per share for the current fiscal year.

In related news, SVP Meghan Scanlon sold 13,850 shares of the business’s stock in a transaction that occurred on Tuesday, July 27th. The shares were sold at an average price of $45.01, for a total transaction of $623,388.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 105,490 shares of the business’s stock in a transaction that occurred on Tuesday, July 27th. The stock was sold at an average price of $45.00, for a total transaction of $4,747,050.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 579,261 shares of company stock valued at $25,513,808. 0.71% of the stock is currently owned by company insiders.

Several research firms have recently issued reports on BSX. Zacks Investment Research lowered shares of Boston Scientific from a “buy” rating to a “hold” rating and set a $48.00 target price for the company. in a report on Monday, August 2nd. Credit Suisse Group lifted their target price on Boston Scientific from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Morgan Stanley restated a “buy” rating and issued a $53.00 price target on shares of Boston Scientific in a report on Tuesday, September 21st. TheStreet cut shares of Boston Scientific from a “b” rating to a “c+” rating in a research report on Tuesday, July 27th. Finally, Raymond James boosted their price objective on shares of Boston Scientific from $50.00 to $53.00 and gave the company a “strong-buy” rating in a research report on Wednesday, July 28th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $48.65.

About Boston Scientific

Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Rhythm and Neuro, Cardiovascular and MedSurg. The Rhythm and Neuro segment develops implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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