Teachers Retirement System of The State of Kentucky Sells 150,603 Shares of Boston Scientific Co. (NYSE:BSX)

Teachers Retirement System of The State of Kentucky trimmed its holdings in Boston Scientific Co. (NYSE:BSX) by 37.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 255,128 shares of the medical equipment provider’s stock after selling 150,603 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Boston Scientific were worth $21,380,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Marshall Wace LLP raised its stake in shares of Boston Scientific by 115.9% in the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after purchasing an additional 3,608,158 shares during the last quarter. AustralianSuper Pty Ltd grew its holdings in Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after buying an additional 2,615,903 shares in the last quarter. Ameriprise Financial Inc. raised its position in Boston Scientific by 30.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after buying an additional 1,824,405 shares during the last quarter. State Street Corp lifted its stake in Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Boston Scientific by 98.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock valued at $184,810,000 after acquiring an additional 1,091,561 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the sale, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This trade represents a 16.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 328,157 shares of company stock worth $27,957,676. 0.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BSX has been the subject of several analyst reports. Royal Bank of Canada increased their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. BTIG Research increased their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Sanford C. Bernstein lifted their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. 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. Finally, Mizuho lifted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Boston Scientific Trading Up 0.4 %

Shares of BSX stock opened at $90.54 on Thursday. Boston Scientific Co. has a 1 year low of $54.95 and a 1 year high of $91.93. The company’s fifty day simple moving average is $87.62 and its two-hundred day simple moving average is $81.55. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The stock has a market capitalization of $133.44 billion, a price-to-earnings ratio of 74.83, a PEG ratio of 2.65 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 EPS. As a group, analysts anticipate that Boston Scientific Co. will post 2.46 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.