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

New York State Common Retirement Fund lowered its holdings in Boston Scientific Co. (NYSE:BSX) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,538,275 shares of the medical equipment provider’s stock after selling 122,525 shares during the quarter. New York State Common Retirement Fund’s holdings in Boston Scientific were worth $146,738,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PDS Planning Inc raised its stake in shares of Boston Scientific by 11.1% during the 4th quarter. PDS Planning Inc now owns 4,964 shares of the medical equipment provider’s stock worth $287,000 after buying an additional 496 shares during the last quarter. Aspire Private Capital LLC increased its position in Boston Scientific by 10.9% during the 4th quarter. Aspire Private Capital LLC now owns 7,885 shares of the medical equipment provider’s stock worth $456,000 after purchasing an additional 773 shares in the last quarter. California Public Employees Retirement System increased its position in Boston Scientific by 3.0% during the 4th quarter. California Public Employees Retirement System now owns 3,798,511 shares of the medical equipment provider’s stock worth $219,592,000 after purchasing an additional 112,222 shares in the last quarter. Jennison Associates LLC increased its position in Boston Scientific by 1.3% during the 4th quarter. Jennison Associates LLC now owns 1,227,833 shares of the medical equipment provider’s stock worth $70,981,000 after purchasing an additional 15,596 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in Boston Scientific during the 4th quarter worth approximately $366,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on BSX. Wells Fargo & Company increased their target price on shares of Boston Scientific from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Raymond James increased their target price on shares of Boston Scientific from $67.00 to $73.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 1st. BTIG Research reissued a “buy” rating and set a $64.00 target price on shares of Boston Scientific in a research report on Friday, December 29th. Evercore ISI upped their price target on Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Argus upped their price target on Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $68.50.

Boston Scientific Stock Performance

BSX traded up $0.47 during trading hours on Tuesday, hitting $68.49. 2,995,264 shares of the stock were exchanged, compared to its average volume of 6,348,381. The stock has a 50-day simple moving average of $67.31 and a 200-day simple moving average of $60.07. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $69.21. The stock has a market cap of $100.48 billion, a price-to-earnings ratio of 63.57, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the business posted $0.45 earnings per share. Analysts anticipate that Boston Scientific Co. will post 2.25 earnings per share for the current year.

Insider Buying and Selling

In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the sale, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the sale, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the sale, the director now directly owns 41,374 shares in the company, valued at $2,690,551.22. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock worth $3,418,529 over 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.