Public Employees Retirement System of Ohio Sells 21,255 Shares of Boston Scientific Corporation $BSX

Public Employees Retirement System of Ohio cut its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 3.4% in the 1st quarter, HoldingsChannel reports. The firm owned 605,201 shares of the medical equipment provider’s stock after selling 21,255 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Boston Scientific were worth $37,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Outfitters Financial LLC grew its position in Boston Scientific by 0.5% during the fourth quarter. Outfitters Financial LLC now owns 24,027 shares of the medical equipment provider’s stock valued at $2,291,000 after buying an additional 110 shares during the period. Natural Investments LLC increased its holdings in Boston Scientific by 2.9% during the fourth quarter. Natural Investments LLC now owns 4,036 shares of the medical equipment provider’s stock worth $384,000 after buying an additional 112 shares during the last quarter. Kathmere Capital Management LLC raised its position in Boston Scientific by 2.3% in the fourth quarter. Kathmere Capital Management LLC now owns 5,228 shares of the medical equipment provider’s stock worth $498,000 after acquiring an additional 118 shares during the period. Patton Fund Management Inc. raised its position in Boston Scientific by 5.5% in the fourth quarter. Patton Fund Management Inc. now owns 2,279 shares of the medical equipment provider’s stock worth $217,000 after acquiring an additional 118 shares during the period. Finally, Bridgewater Advisors Inc. boosted its stake in Boston Scientific by 1.2% in the fourth quarter. Bridgewater Advisors Inc. now owns 10,051 shares of the medical equipment provider’s stock valued at $921,000 after acquiring an additional 123 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $44.26 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $65.78 billion, a PE ratio of 18.52, a P/E/G ratio of 0.84 and a beta of 0.58. Boston Scientific Corporation has a twelve month low of $42.20 and a twelve month high of $109.50. The company has a 50-day moving average price of $47.21 and a two-hundred day moving average price of $64.06.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the company earned $0.75 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. Equities analysts forecast that Boston Scientific Corporation will post 3.35 EPS for the current year.

Boston Scientific announced that its board has initiated a share repurchase plan on Monday, May 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical equipment provider to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity at Boston Scientific

In other Boston Scientific news, Director David C. Habiger bought 2,250 shares of the stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $55.92 per share, with a total value of $125,820.00. Following the acquisition, the director directly owned 13,878 shares of the company’s stock, valued at $776,057.76. The trade was a 19.35% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cheryl Pegus bought 1,770 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the transaction, the director owned 1,770 shares of the company’s stock, valued at approximately $99,987.30. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 9,800 shares of company stock worth $554,012. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on BSX. Bank of America reduced their target price on shares of Boston Scientific from $105.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Citigroup lowered their price target on shares of Boston Scientific from $87.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. Evercore set a $65.00 price objective on Boston Scientific in a research note on Monday, July 6th. Wolfe Research lowered Boston Scientific from an “outperform” rating to a “peer perform” rating in a report on Friday, May 29th. Finally, Royal Bank Of Canada reduced their price objective on Boston Scientific from $100.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $79.84.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.