Maryland State Retirement & Pension System Increases Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Maryland State Retirement & Pension System increased its holdings in Boston Scientific Co. (NYSE:BSX) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,868 shares of the medical equipment provider’s stock after purchasing an additional 3,282 shares during the period. Maryland State Retirement & Pension System’s holdings in Boston Scientific were worth $6,583,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BSX. Commonwealth Equity Services LLC lifted its stake in shares of Boston Scientific by 7.0% during the third quarter. Commonwealth Equity Services LLC now owns 201,364 shares of the medical equipment provider’s stock worth $10,632,000 after purchasing an additional 13,121 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Boston Scientific by 25.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 42,606 shares of the medical equipment provider’s stock worth $2,250,000 after acquiring an additional 8,766 shares in the last quarter. Stratos Wealth Advisors LLC acquired a new position in shares of Boston Scientific in the third quarter worth about $252,000. Miracle Mile Advisors LLC acquired a new position in shares of Boston Scientific in the third quarter worth about $255,000. Finally, Everhart Financial Group Inc. lifted its stake in shares of Boston Scientific by 23.0% in the third quarter. Everhart Financial Group Inc. now owns 6,528 shares of the medical equipment provider’s stock worth $345,000 after acquiring an additional 1,219 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 17,587 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,620,617. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction 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 owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 17,587 shares of Boston Scientific stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,384 shares of company stock worth $5,395,560. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. TD Cowen upped their price objective on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Robert W. Baird upped their target price on Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Mizuho upped their target price on Boston Scientific from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, Argus upped their target price on Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.09.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded down $0.30 during midday trading on Monday, hitting $72.55. The company’s stock had a trading volume of 4,922,822 shares, compared to its average volume of 6,641,671. The stock has a market capitalization of $106.44 billion, a price-to-earnings ratio of 60.97, a PEG ratio of 2.51 and a beta of 0.77. The stock’s 50 day simple moving average is $68.54 and its 200 day simple moving average is $61.57. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $74.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66.

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.