Retirement Systems of Alabama Raises Stake in Boston Scientific Corporation $BSX

Retirement Systems of Alabama increased its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 0.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 317,461 shares of the medical equipment provider’s stock after buying an additional 751 shares during the quarter. Retirement Systems of Alabama’s holdings in Boston Scientific were worth $34,098,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Assetmark Inc. increased its stake in shares of Boston Scientific by 10.6% during the 2nd quarter. Assetmark Inc. now owns 198,114 shares of the medical equipment provider’s stock worth $21,279,000 after purchasing an additional 19,026 shares during the last quarter. Keybank National Association OH lifted its stake in Boston Scientific by 3.1% in the second quarter. Keybank National Association OH now owns 16,219 shares of the medical equipment provider’s stock valued at $1,742,000 after purchasing an additional 493 shares during the last quarter. HBK Sorce Advisory LLC grew its holdings in Boston Scientific by 2.7% during the second quarter. HBK Sorce Advisory LLC now owns 8,507 shares of the medical equipment provider’s stock valued at $914,000 after purchasing an additional 221 shares during the period. Spire Wealth Management increased its position in Boston Scientific by 79.9% in the second quarter. Spire Wealth Management now owns 19,128 shares of the medical equipment provider’s stock worth $2,054,000 after buying an additional 8,498 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its stake in shares of Boston Scientific by 8.4% in the second quarter. Arkadios Wealth Advisors now owns 20,740 shares of the medical equipment provider’s stock valued at $2,228,000 after buying an additional 1,606 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BSX has been the subject of several research reports. Wall Street Zen upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Canaccord Genuity Group reiterated a “buy” rating and issued a $132.00 target price on shares of Boston Scientific in a research note on Thursday, October 23rd. BTIG Research restated a “buy” rating and set a $132.00 price target on shares of Boston Scientific in a research note on Wednesday, October 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $121.00 price objective on shares of Boston Scientific in a research note on Friday, October 17th. Finally, Erste Group Bank downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $123.77.

Boston Scientific Stock Up 0.2%

BSX opened at $100.55 on Friday. The company has a fifty day moving average price of $100.87 and a 200-day moving average price of $102.25. The firm has a market capitalization of $148.98 billion, a P/E ratio of 53.77, a price-to-earnings-growth ratio of 2.02 and a beta of 0.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 0.82. Boston Scientific Corporation has a one year low of $83.38 and a one year high of $109.50.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.04. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.97 billion. Boston Scientific had a return on equity of 19.74% and a net margin of 14.43%.The firm’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS. Q4 2025 guidance at 0.770-0.790 EPS. Equities research analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ellen M. Zane sold 9,990 shares of the stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.13, for a total value of $1,010,288.70. Following the transaction, the director owned 27,035 shares of the company’s stock, valued at $2,734,049.55. This represents a 26.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $98.47, for a total transaction of $4,923,500.00. Following the sale, the executive vice president owned 178,342 shares in the company, valued at approximately $17,561,336.74. This trade represents a 21.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 112,891 shares of company stock valued at $11,501,887 in the last three months. 0.50% of the stock is owned by insiders.

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.