California State Teachers Retirement System Decreases Stake in Boston Scientific Co. (BSX)

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California State Teachers Retirement System lowered its position in shares of Boston Scientific Co. (NYSE:BSX) by 0.1% in the first quarter, HoldingsChannel.com reports. The firm owned 2,282,908 shares of the medical equipment provider’s stock after selling 3,001 shares during the period. California State Teachers Retirement System’s holdings in Boston Scientific were worth $87,618,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BSX. Vanguard Group Inc boosted its holdings in Boston Scientific by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 101,453,358 shares of the medical equipment provider’s stock worth $3,905,954,000 after acquiring an additional 1,367,053 shares during the period. BB&T Corp boosted its holdings in Boston Scientific by 56.6% in the 4th quarter. BB&T Corp now owns 44,656 shares of the medical equipment provider’s stock worth $1,578,000 after acquiring an additional 16,146 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Boston Scientific by 573.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 74,788 shares of the medical equipment provider’s stock worth $2,643,000 after acquiring an additional 63,682 shares during the period. We Are One Seven LLC purchased a new position in Boston Scientific in the 4th quarter worth approximately $27,000. Finally, Fisher Asset Management LLC purchased a new position in Boston Scientific in the 4th quarter worth approximately $366,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

BSX stock opened at $38.47 on Monday. The company has a current ratio of 1.39, a quick ratio of 1.12 and a debt-to-equity ratio of 0.82. The company has a market cap of $53.50 billion, a P/E ratio of 26.17, a PEG ratio of 2.28 and a beta of 0.83. Boston Scientific Co. has a 12-month low of $29.96 and a 12-month high of $41.00.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.54 billion. Boston Scientific had a net margin of 18.08% and a return on equity of 24.65%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. Sell-side analysts expect that Boston Scientific Co. will post 1.55 earnings per share for the current year.

A number of equities analysts have weighed in on BSX shares. Guggenheim restated a “buy” rating and issued a $48.00 price target on shares of Boston Scientific in a report on Friday, February 8th. Argus increased their target price on Boston Scientific from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 13th. Canaccord Genuity reiterated a “buy” rating and set a $45.00 target price on shares of Boston Scientific in a research note on Monday, February 11th. Needham & Company LLC reiterated a “buy” rating and set a $43.00 target price on shares of Boston Scientific in a research note on Monday, May 13th. Finally, SunTrust Banks reiterated a “buy” rating and set a $47.00 target price on shares of Boston Scientific in a research note on Friday, February 8th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. Boston Scientific has a consensus rating of “Buy” and a consensus target price of $41.53.

In related news, SVP Xin Warren Wang sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $40.31, for a total transaction of $403,100.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Daniel J. Brennan sold 64,223 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $40.84, for a total value of $2,622,867.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 258,500 shares of company stock worth $10,341,910. Corporate insiders own 0.66% of the company’s stock.

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Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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