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

New York State Common Retirement Fund reduced its stake in Boston Scientific Co. (NYSE:BSX) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,136,971 shares of the medical equipment provider’s stock after selling 3,597 shares during the period. New York State Common Retirement Fund’s holdings in Boston Scientific were worth $190,874,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in BSX. TFC Financial Management Inc. increased its position in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares during the period. Global Wealth Strategies & Associates boosted its stake in Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 250 shares in the last quarter. West Oak Capital LLC acquired a new position in Boston Scientific during the fourth quarter worth about $29,000. Dunhill Financial LLC raised its position in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 152 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new stake in Boston Scientific in the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Down 0.7 %

NYSE:BSX opened at $105.32 on Wednesday. The company has a market capitalization of $155.22 billion, a P/E ratio of 84.26, a P/E/G ratio of 2.79 and a beta of 0.80. The stock’s 50 day moving average price is $97.09 and its 200 day moving average price is $88.82. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific Co. has a 52 week low of $65.33 and a 52 week high of $107.17.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping 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%. On average, research analysts forecast that Boston Scientific Co. will post 2.83 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In related news, CFO Daniel J. Brennan sold 15,087 shares of Boston Scientific stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the sale, the chief financial officer now directly owns 241,451 shares of the company’s stock, valued at $25,369,256.57. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the transaction, the executive vice president now owns 25,443 shares of the company’s stock, valued at $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. In the last three months, insiders have sold 88,527 shares of company stock worth $8,801,626. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BSX has been the topic of several recent research reports. Bank of America lifted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Wells Fargo & Company increased their price objective on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. TD Cowen lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Canaccord Genuity Group upped their target price on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific currently has an average rating of “Buy” and an average target price of $107.39.

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.