Boston Scientific Corporation $BSX Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 4.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,411,074 shares of the medical equipment provider’s stock after selling 151,279 shares during the quarter. California Public Employees Retirement System’s holdings in Boston Scientific were worth $366,383,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Boston Scientific by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 137,134,110 shares of the medical equipment provider’s stock valued at $14,729,575,000 after purchasing an additional 2,545,381 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Boston Scientific by 2.0% in the second quarter. Geode Capital Management LLC now owns 32,424,982 shares of the medical equipment provider’s stock valued at $3,466,320,000 after buying an additional 622,602 shares in the last quarter. Norges Bank purchased a new stake in shares of Boston Scientific during the 2nd quarter valued at about $2,089,937,000. Invesco Ltd. raised its holdings in shares of Boston Scientific by 1.4% during the 2nd quarter. Invesco Ltd. now owns 16,851,518 shares of the medical equipment provider’s stock valued at $1,810,022,000 after buying an additional 226,578 shares during the period. Finally, Amundi lifted its position in Boston Scientific by 2.6% during the 1st quarter. Amundi now owns 12,308,715 shares of the medical equipment provider’s stock worth $1,212,408,000 after acquiring an additional 311,034 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the sale, the executive vice president owned 23,600 shares of the company’s stock, valued at approximately $2,396,580. The trade was a 42.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ellen M. Zane sold 12,891 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $98.28, for a total value of $1,266,927.48. Following the transaction, the director owned 24,134 shares of the company’s stock, valued at approximately $2,371,889.52. This represents a 34.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 143,095 shares of company stock worth $14,228,950. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on BSX. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Wells Fargo & Company raised their price target on shares of Boston Scientific from $124.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, October 22nd. Truist Financial upped their price objective on shares of Boston Scientific from $129.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Finally, Morgan Stanley lifted their target price on Boston Scientific from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $123.77.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $97.46 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average price is $99.27 and its two-hundred day moving average price is $102.04. Boston Scientific Corporation has a 52-week low of $85.98 and a 52-week high of $109.50. The stock has a market capitalization of $144.48 billion, a P/E ratio of 52.12, a P/E/G ratio of 1.96 and a beta of 0.67.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.04. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.97 billion. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The business’s revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS and its Q4 2025 guidance at 0.770-0.790 EPS. As a group, sell-side analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share 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 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.