State of Alaska Department of Revenue Has $17.42 Million Stock Position in Boston Scientific Corporation (NYSE:BSX)

State of Alaska Department of Revenue increased its position in shares of Boston Scientific Corporation (NYSE:BSX) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 172,671 shares of the medical equipment provider’s stock after buying an additional 4,640 shares during the quarter. State of Alaska Department of Revenue’s holdings in Boston Scientific were worth $17,419,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BSX. Norges Bank acquired a new position in Boston Scientific during the 4th quarter worth approximately $1,762,522,000. Capital World Investors raised its stake in Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock worth $2,492,041,000 after buying an additional 6,216,199 shares during the period. Wellington Management Group LLP raised its stake in Boston Scientific by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock worth $3,230,293,000 after buying an additional 3,344,571 shares during the period. GAMMA Investing LLC raised its stake in Boston Scientific by 11,720.3% during the 1st quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider’s stock worth $260,057,000 after buying an additional 2,556,078 shares during the period. Finally, Axiom Investors LLC DE raised its stake in Boston Scientific by 208.2% during the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock worth $335,167,000 after buying an additional 2,535,007 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $101.72 on Wednesday. The stock has a fifty day simple moving average of $101.35 and a two-hundred day simple moving average of $98.89. Boston Scientific Corporation has a 1-year low of $71.88 and a 1-year high of $107.17. The firm has a market cap of $150.49 billion, a price-to-earnings ratio of 74.25, a price-to-earnings-growth ratio of 2.62 and a beta of 0.68. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the company earned $0.56 earnings per share. Boston Scientific’s revenue was up 20.9% compared to the same quarter last year. Analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total value of $5,799,551.36. Following the completion of the transaction, the executive vice president now directly owns 178,342 shares of the company’s stock, valued at $18,347,824.96. This trade represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $103.69, for a total value of $17,051,094.67. Following the completion of the transaction, the chief executive officer now directly owns 1,476,882 shares of the company’s stock, valued at $153,137,894.58. The trade was a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock valued at $42,406,693 over the last three months. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BSX shares. Evercore ISI upped their price target on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Leerink Partnrs raised Boston Scientific to a “strong-buy” rating in a report on Monday. BTIG Research reissued a “buy” rating and set a $124.00 price objective on shares of Boston Scientific in a report on Wednesday, April 23rd. Finally, Robert W. Baird boosted their price objective on Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Twenty-two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $116.09.

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.