Teacher Retirement System of Texas Has $77.67 Million Stake in Boston Scientific Corporation $BSX

Teacher Retirement System of Texas reduced its holdings in Boston Scientific Corporation (NYSE:BSX) by 14.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 795,537 shares of the medical equipment provider’s stock after selling 136,256 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.05% of Boston Scientific worth $77,668,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BSX. State Street Corp lifted its holdings in Boston Scientific by 1.1% during the 2nd quarter. State Street Corp now owns 65,191,864 shares of the medical equipment provider’s stock worth $7,002,258,000 after buying an additional 713,379 shares in the last quarter. Synergy Asset Management LLC raised its position in shares of Boston Scientific by 3,493.0% during the third quarter. Synergy Asset Management LLC now owns 493,323 shares of the medical equipment provider’s stock worth $48,297,000 after acquiring an additional 479,593 shares during the last quarter. Gladstone Institutional Advisory LLC lifted its stake in shares of Boston Scientific by 39.5% during the third quarter. Gladstone Institutional Advisory LLC now owns 51,884 shares of the medical equipment provider’s stock valued at $5,065,000 after acquiring an additional 14,700 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in Boston Scientific by 75.3% in the second quarter. Bank Pictet & Cie Europe AG now owns 164,654 shares of the medical equipment provider’s stock valued at $17,685,000 after acquiring an additional 70,753 shares during the last quarter. Finally, Channel Wealth LLC increased its position in Boston Scientific by 70.8% in the third quarter. Channel Wealth LLC now owns 28,577 shares of the medical equipment provider’s stock worth $2,790,000 after purchasing an additional 11,847 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Boston Scientific news, Director Ellen M. Zane sold 12,891 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the completion of the transaction, the director owned 24,134 shares in the company, valued at approximately $2,371,889.52. This represents a 34.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $101.55, for a total value of $1,758,135.15. Following the completion of the sale, the executive vice president directly owned 23,600 shares in the company, valued at $2,396,580. This represents a 42.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 93,095 shares of company stock worth $9,305,450 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BSX. Citigroup restated a “buy” rating on shares of Boston Scientific in a research report on Wednesday, January 14th. Needham & Company LLC reaffirmed a “buy” rating on shares of Boston Scientific in a research note on Thursday, January 15th. Royal Bank Of Canada lifted their target price on shares of Boston Scientific from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Boston Scientific in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price objective on Boston Scientific from $124.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.89.

Boston Scientific Price Performance

Shares of BSX opened at $91.32 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.51. The stock has a 50 day simple moving average of $95.90 and a 200 day simple moving average of $99.95. Boston Scientific Corporation has a 52-week low of $85.98 and a 52-week high of $109.50. The firm has a market capitalization of $135.38 billion, a PE ratio of 48.83, a P/E/G ratio of 1.62 and a beta of 0.67.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.71 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.97 billion. Boston Scientific had a net margin of 14.43% and a return on equity of 19.46%. The business’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. Sell-side analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Boston Scientific Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.