California State Teachers Retirement System Sells 50,330 Shares of Boston Scientific Co. (NYSE:BSX)

California State Teachers Retirement System lessened its stake in Boston Scientific Co. (NYSE:BSX) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,348,935 shares of the medical equipment provider’s stock after selling 50,330 shares during the period. California State Teachers Retirement System owned about 0.16% of Boston Scientific worth $209,807,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Boston Scientific by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock worth $11,869,805,000 after purchasing an additional 1,600,062 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after buying an additional 3,344,571 shares during the period. Geode Capital Management LLC boosted its position in Boston Scientific by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock valued at $2,729,371,000 after acquiring an additional 1,041,329 shares during the last quarter. Capital World Investors grew its holdings in Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock worth $2,492,041,000 after acquiring an additional 6,216,199 shares during the period. Finally, Norges Bank bought a new position in shares of Boston Scientific in the 4th quarter worth about $1,762,522,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity

In related news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the sale, the executive vice president now owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This represents a 75.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the completion of the transaction, the executive vice president now directly owns 25,443 shares of the company’s stock, valued at approximately $2,704,845.33. The trade was a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 138,009 shares of company stock worth $14,407,381 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

NYSE BSX opened at $101.96 on Monday. The company has a market cap of $150.81 billion, a PE ratio of 81.57, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm’s 50-day simple moving average is $98.68 and its two-hundred day simple moving average is $94.92. Boston Scientific Co. has a 52 week low of $70.97 and a 52 week high of $107.17.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on BSX. Needham & Company LLC raised their target price on Boston Scientific from $113.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday. 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 report on Thursday, February 6th. Barclays boosted their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday. Raymond James raised their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Finally, Stifel Nicolaus upped their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, February 6th. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $114.52.

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.