Boston Scientific Co. (NYSE:BSX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its stake in shares of Boston Scientific Co. (NYSE:BSX) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,285,137 shares of the medical equipment provider’s stock after selling 55,891 shares during the period. New York State Teachers Retirement System’s holdings in Boston Scientific were worth $114,788,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BSX. AustralianSuper Pty Ltd lifted its position in shares of Boston Scientific by 4,292.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after acquiring an additional 2,615,903 shares during the period. State Street Corp increased its stake in shares of Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after purchasing an additional 1,389,172 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Boston Scientific by 98.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock worth $184,810,000 after purchasing an additional 1,091,561 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Boston Scientific by 32.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,897,117 shares of the medical equipment provider’s stock worth $326,578,000 after purchasing an additional 951,580 shares in the last quarter. Finally, Impax Asset Management Group plc increased its stake in shares of Boston Scientific by 17.5% during the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after purchasing an additional 815,403 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares in the company, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig sold 12,000 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the completion of the transaction, the director now owns 24,398 shares in the company, valued at $2,573,501.04. This represents a 32.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,326 shares of company stock worth $8,673,948. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Performance

NYSE:BSX opened at $106.16 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $156.47 billion, a price-to-earnings ratio of 84.93, a PEG ratio of 2.79 and a beta of 0.80. The firm’s fifty day simple moving average is $95.80 and its 200 day simple moving average is $87.85. Boston Scientific Co. has a twelve month low of $65.00 and a twelve month high of $107.17.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. As a group, equities research analysts expect that Boston Scientific Co. will post 2.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BSX shares. StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, January 29th. Citigroup raised their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Royal Bank of Canada raised their price objective on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. UBS Group raised their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Sanford C. Bernstein lifted their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $107.39.

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.