Boston Scientific Co. (NYSE:BSX) Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System boosted its holdings in shares of 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 and Exchange Commission. The fund owned 3,798,511 shares of the medical equipment provider’s stock after acquiring an additional 112,222 shares during the period. California Public Employees Retirement System owned about 0.26% of Boston Scientific worth $219,592,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in Boston Scientific by 5.6% during the 3rd quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock valued at $27,353,000 after buying an additional 27,620 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Boston Scientific during the 4th quarter worth about $5,116,000. Glenmede Trust Co. NA increased its position in Boston Scientific by 12.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after purchasing an additional 1,123 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Boston Scientific by 2.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock valued at $98,683,000 after purchasing an additional 38,249 shares in the last quarter. Finally, HealthInvest Partners AB purchased a new position in Boston Scientific in the 4th quarter valued at about $3,746,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

BSX has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Mizuho upgraded Boston Scientific from a “neutral” rating to a “buy” rating and lifted their price target for the company from $65.00 to $80.00 in a report on Thursday, February 1st. JPMorgan Chase & Co. raised their target price on shares of Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Finally, Evercore ISI upped their price target on shares of Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.50.

Boston Scientific Stock Up 0.7 %

NYSE:BSX traded up $0.51 on Tuesday, reaching $68.53. The stock had a trading volume of 1,691,634 shares, compared to its average volume of 6,330,170. The company has a 50-day moving average of $67.31 and a 200 day moving average of $60.07. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock has a market cap of $100.54 billion, a P/E ratio of 63.57, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $69.21.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the business posted $0.45 earnings per share. On average, research analysts predict that Boston Scientific Co. will post 2.25 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the transaction, the executive vice president now directly owns 56,508 shares in the company, valued at $3,779,820.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock worth $3,418,529 in the last ninety days. 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.