New York State Teachers Retirement System Trims Stake in Boston Scientific Corporation $BSX

New York State Teachers Retirement System cut its position in shares of Boston Scientific Corporation (NYSE:BSX) by 0.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,217,151 shares of the medical equipment provider’s stock after selling 8,465 shares during the period. New York State Teachers Retirement System’s holdings in Boston Scientific were worth $118,830,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Boston Scientific by 0.8% during the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock worth $2,445,000 after buying an additional 226 shares during the period. SCS Capital Management LLC acquired a new position in Boston Scientific during the first quarter worth $249,000. Geneos Wealth Management Inc. lifted its holdings in Boston Scientific by 136.7% during the first quarter. Geneos Wealth Management Inc. now owns 3,423 shares of the medical equipment provider’s stock valued at $345,000 after purchasing an additional 1,977 shares in the last quarter. Advisors Capital Management LLC grew its position in shares of Boston Scientific by 27.5% in the first quarter. Advisors Capital Management LLC now owns 4,400 shares of the medical equipment provider’s stock valued at $444,000 after purchasing an additional 948 shares during the period. Finally, Modern Wealth Management LLC increased its stake in shares of Boston Scientific by 7.9% during the first quarter. Modern Wealth Management LLC now owns 2,974 shares of the medical equipment provider’s stock worth $300,000 after purchasing an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BSX. Leerink Partners raised their target price on Boston Scientific from $127.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Canaccord Genuity Group decreased their price objective on Boston Scientific from $132.00 to $131.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Evercore ISI set a $112.00 target price on shares of Boston Scientific in a research report on Monday, January 5th. Wells Fargo & Company raised their price target on shares of Boston Scientific from $124.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Finally, Wall Street Zen cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $125.21.

Boston Scientific Stock Performance

Shares of BSX stock opened at $97.68 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 firm has a market cap of $144.80 billion, a P/E ratio of 52.23, a P/E/G ratio of 1.73 and a beta of 0.67. The firm’s 50 day moving average price is $97.58 and its 200-day moving average price is $100.76. Boston Scientific Corporation has a one year low of $85.98 and a one year high of $109.50.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same period last year, the business posted $0.63 EPS. Boston Scientific’s revenue for the quarter was up 20.3% on a year-over-year basis. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS and its Q4 2025 guidance at 0.770-0.790 EPS. As a group, equities research analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insider Transactions at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Monday, December 1st. The shares were sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the sale, the executive vice president directly owned 23,600 shares in the company, valued at $2,396,580. This trade represents a 42.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $99.47, for a total value of $4,973,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares of the company’s stock, valued at approximately $17,739,678.74. This represents a 21.90% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 93,095 shares of company stock valued at $9,305,450. Insiders own 0.50% of the company’s stock.

Boston Scientific Company 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.