State of Alaska Department of Revenue Cuts Position in Boston Scientific Co. (NYSE:BSX)

State of Alaska Department of Revenue lessened its holdings in Boston Scientific Co. (NYSE:BSX) by 2.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 176,161 shares of the medical equipment provider’s stock after selling 5,245 shares during the quarter. State of Alaska Department of Revenue’s holdings in Boston Scientific were worth $12,065,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Monument Capital Management purchased a new stake in shares of Boston Scientific during the first quarter valued at approximately $209,000. Miracle Mile Advisors LLC grew its holdings in shares of Boston Scientific by 3.9% during the first quarter. Miracle Mile Advisors LLC now owns 4,984 shares of the medical equipment provider’s stock valued at $341,000 after buying an additional 185 shares during the last quarter. Breakwater Capital Group grew its holdings in shares of Boston Scientific by 4.3% during the first quarter. Breakwater Capital Group now owns 7,289 shares of the medical equipment provider’s stock valued at $499,000 after buying an additional 303 shares during the last quarter. New Mexico Educational Retirement Board grew its holdings in shares of Boston Scientific by 10.8% during the first quarter. New Mexico Educational Retirement Board now owns 82,862 shares of the medical equipment provider’s stock valued at $5,675,000 after buying an additional 8,100 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Boston Scientific by 15.8% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 77,216 shares of the medical equipment provider’s stock valued at $5,289,000 after buying an additional 10,532 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Argus raised their target price on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Raymond James raised their target price on shares of Boston Scientific from $73.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. raised their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Barclays raised their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $82.00 target price on shares of Boston Scientific in a report on Tuesday, June 18th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.41.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the sale, the executive vice president now owns 45,628 shares in the company, valued at approximately $3,437,157.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Boston Scientific news, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $73.29, for a total transaction of $719,561.22. Following the sale, the director now owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now directly owns 45,628 shares in the company, valued at approximately $3,437,157.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,259 shares of company stock worth $5,344,014. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Price Performance

Boston Scientific stock opened at $76.11 on Thursday. The stock has a market cap of $111.66 billion, a price-to-earnings ratio of 63.96, a price-to-earnings-growth ratio of 2.63 and a beta of 0.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $77.99. The firm has a 50-day moving average of $75.16 and a two-hundred day moving average of $67.96.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.68 billion. On average, research analysts forecast that Boston Scientific Co. will post 2.32 earnings per share for the current year.

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.