State of Michigan Retirement System Sells 1,000 Shares of Boston Scientific Co. (NYSE:BSX)

State of Michigan Retirement System decreased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 400,008 shares of the medical equipment provider’s stock after selling 1,000 shares during the quarter. State of Michigan Retirement System’s holdings in Boston Scientific were worth $35,729,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. TFC Financial Management Inc. raised its position in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares during the last quarter. Dunhill Financial LLC grew its position in Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. Global Wealth Strategies & Associates increased its stake in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. West Oak Capital LLC purchased a new position in Boston Scientific in the fourth quarter worth about $29,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Boston Scientific in the third quarter worth approximately $30,000. 89.07% of the stock is owned by institutional investors.

Insider Transactions at Boston Scientific

In other news, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the sale, the chief financial officer now owns 225,808 shares in the company, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,322 shares of company stock valued at $14,321,068 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group raised their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 7th. TD Cowen boosted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Royal Bank of Canada increased their price objective on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Barclays boosted their target price on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Truist Financial raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $108.91.

Boston Scientific Price Performance

NYSE BSX opened at $104.82 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 12 month low of $65.52 and a 12 month high of $107.17. The stock has a market cap of $154.69 billion, a price-to-earnings ratio of 83.86, a PEG ratio of 2.79 and a beta of 0.80. The company’s 50 day moving average is $99.57 and its two-hundred day moving average is $90.61.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, research analysts anticipate that Boston Scientific Co. will post 2.85 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.