State of Michigan Retirement System grew its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 14.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 364,865 shares of the medical equipment provider’s stock after purchasing an additional 45,369 shares during the quarter. State of Michigan Retirement System’s holdings in Boston Scientific were worth $12,810,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. NewSquare Capital LLC purchased a new position in shares of Boston Scientific during the 1st quarter worth $25,000. Global Retirement Partners LLC raised its position in shares of Boston Scientific by 75.0% in the 2nd quarter. Global Retirement Partners LLC now owns 714 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 306 shares during the period. Baystate Wealth Management LLC raised its position in shares of Boston Scientific by 7,050.0% in the 2nd quarter. Baystate Wealth Management LLC now owns 715 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 705 shares during the period. Key Financial Inc purchased a new position in shares of Boston Scientific in the 1st quarter worth $28,000. Finally, Ellevest Inc. raised its position in shares of Boston Scientific by 129.8% in the 1st quarter. Ellevest Inc. now owns 1,018 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 575 shares during the period. 89.97% of the stock is currently owned by institutional investors.

Several research analysts recently weighed in on the company. Wells Fargo & Co increased their target price on Boston Scientific from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. CSFB increased their target price on Boston Scientific from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. UBS Group cut their target price on Boston Scientific from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Citigroup increased their price target on Boston Scientific from $44.00 to $46.00 and gave the company a “buy” rating in a report on Thursday. Finally, SunTrust Banks lowered their price target on Boston Scientific from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $44.71.

In related news, EVP David A. Pierce sold 2,170 shares of Boston Scientific stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $38.00, for a total value of $82,460.00. Following the completion of the transaction, the executive vice president now directly owns 9,401 shares in the company, valued at $357,238. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

Shares of Boston Scientific stock traded down $0.37 during trading hours on Friday, hitting $38.57. 7,060,358 shares of the company’s stock traded hands, compared to its average volume of 8,820,205. The company has a market cap of $53.97 billion, a PE ratio of 13.68, a PEG ratio of 3.98 and a beta of 0.92. Boston Scientific Co. has a twelve month low of $24.10 and a twelve month high of $46.62. The stock has a 50 day simple moving average of $36.11 and a 200-day simple moving average of $37.19. The company has a quick ratio of 0.80, a current ratio of 1.21 and a debt-to-equity ratio of 0.68.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.12. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.68 billion. Boston Scientific had a return on equity of 13.68% and a net margin of 39.18%. The company’s revenue for the quarter was down 23.9% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. As a group, equities research analysts predict that Boston Scientific Co. will post 0.92 EPS for the current year.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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