Illinois Municipal Retirement Fund Trims Position in Boston Scientific Co. (NYSE:BSX)

Illinois Municipal Retirement Fund lessened its stake in Boston Scientific Co. (NYSE:BSX) by 2.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 212,631 shares of the medical equipment provider’s stock after selling 5,593 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Boston Scientific were worth $12,292,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new position in Boston Scientific in the 4th quarter worth about $28,000. Motco increased its position in Boston Scientific by 136.3% during the 3rd quarter. Motco now owns 645 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 372 shares during the period. Venturi Wealth Management LLC increased its position in Boston Scientific by 58.0% during the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 215 shares during the period. Asset Dedication LLC increased its position in Boston Scientific by 42.6% during the 3rd quarter. Asset Dedication LLC now owns 786 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 235 shares during the period. Finally, CNB Bank purchased a new position in Boston Scientific during the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

BSX stock traded up $0.80 during trading on Tuesday, reaching $68.82. The company had a trading volume of 3,831,922 shares, compared to its average volume of 6,356,959. The firm has a 50-day simple moving average of $67.31 and a 200-day simple moving average of $60.07. The company has a market cap of $100.97 billion, a price-to-earnings ratio of 63.57, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. Boston Scientific Co. has a twelve month low of $48.35 and a twelve month high of $69.21.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the previous year, the business posted $0.45 EPS. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on BSX. Wells Fargo & Company raised their target price 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. BTIG Research reissued a “buy” rating and set a $64.00 target price on shares of Boston Scientific in a research report on Friday, December 29th. Royal Bank of Canada raised their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Argus raised their price target on shares of Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Needham & Company LLC raised their price target on shares of Boston Scientific from $60.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $68.50.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the transaction, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,979 shares of company stock worth $3,418,529. Company insiders own 0.50% of the company’s stock.

Boston Scientific Company 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.