Kentucky Retirement Systems Insurance Trust Fund Sells 3,818 Shares of Boston Scientific Co. (NYSE:BSX)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in Boston Scientific Co. (NYSE:BSX) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,601 shares of the medical equipment provider’s stock after selling 3,818 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Boston Scientific were worth $3,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. First Foundation Advisors purchased a new position in shares of Boston Scientific during the first quarter valued at approximately $25,000. Triad Wealth Partners LLC purchased a new stake in Boston Scientific in the second quarter worth about $26,000. Values First Advisors Inc. purchased a new position in shares of Boston Scientific during the 3rd quarter worth approximately $28,000. Andra AP fonden purchased a new position in shares of Boston Scientific in the 2nd quarter valued at approximately $29,000. Finally, Lynx Investment Advisory purchased a new stake in Boston Scientific in the second quarter worth $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the transaction, the executive vice president now owns 34,748 shares in the company, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock worth $26,196,718 in the last three months. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BSX shares. Canaccord Genuity Group upped their price objective on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Stifel Nicolaus raised their price objective on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Thursday, October 31st. Bank of America lifted their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Citigroup increased their price objective on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Trading Down 0.7 %

Shares of NYSE:BSX opened at $86.98 on Friday. Boston Scientific Co. has a 52-week low of $53.56 and a 52-week high of $89.30. The stock has a market capitalization of $128.19 billion, a price-to-earnings ratio of 71.88, a PEG ratio of 2.61 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The stock’s 50-day simple moving average is $85.26 and its two-hundred day simple moving average is $79.49.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the firm earned $0.50 EPS. Analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

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.