California State Teachers Retirement System lowered its stake in Boston Scientific Co. (NYSE:BSX) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,265,276 shares of the medical equipment provider’s stock after selling 40,296 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Boston Scientific worth $56,156,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of BSX. Truewealth LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $116,000. Icon Wealth Partners LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $117,000. Cerebellum GP LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $126,000. Delpha Capital Management LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $135,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Boston Scientific in the 3rd quarter valued at $138,000. 91.85% of the stock is currently owned by institutional investors.
BSX has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Boston Scientific from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. TheStreet cut shares of Boston Scientific from a “b” rating to a “c+” rating in a research report on Thursday, December 7th. BMO Capital Markets restated a “buy” rating and issued a $32.00 price objective on shares of Boston Scientific in a research report on Tuesday, December 12th. Canaccord Genuity lowered their price objective on shares of Boston Scientific from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, November 29th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Boston Scientific in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $31.06.
Boston Scientific (NYSE:BSX) last released its earnings results on Thursday, February 1st. The medical equipment provider reported $0.34 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.34. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Boston Scientific had a return on equity of 24.27% and a net margin of 1.15%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. equities analysts forecast that Boston Scientific Co. will post 1.37 earnings per share for the current year.
In other news, SVP David A. Pierce sold 8,763 shares of the firm’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $27.74, for a total value of $243,085.62. Following the completion of the transaction, the senior vice president now owns 24,201 shares in the company, valued at approximately $671,335.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John Bradley Sorenson sold 1,950 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $27.43, for a total value of $53,488.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 174,276 shares of company stock valued at $4,592,464. Corporate insiders own 0.74% of the company’s stock.
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About Boston Scientific
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.
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