California Public Employees Retirement System Reduces Stake in Boston Scientific Corporation $BSX

California Public Employees Retirement System trimmed its holdings in Boston Scientific Corporation (NYSE:BSX) by 4.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,411,074 shares of the medical equipment provider’s stock after selling 151,279 shares during the quarter. California Public Employees Retirement System owned about 0.23% of Boston Scientific worth $366,383,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock valued at $2,445,000 after acquiring an additional 226 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in shares of Boston Scientific by 23.1% during the first quarter. Atria Wealth Solutions Inc. now owns 22,110 shares of the medical equipment provider’s stock worth $2,230,000 after purchasing an additional 4,145 shares in the last quarter. Exencial Wealth Advisors LLC purchased a new stake in shares of Boston Scientific in the 1st quarter valued at about $257,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Boston Scientific in the 1st quarter valued at about $317,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of Boston Scientific in the 1st quarter valued at about $27,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BSX has been the subject of a number of research reports. Oppenheimer upgraded Boston Scientific from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $118.00 to $125.00 in a research note on Monday, September 8th. Erste Group Bank cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. The Goldman Sachs Group reiterated a “buy” rating and set a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, October 22nd. Barclays lifted their price objective on shares of Boston Scientific from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Finally, Truist Financial raised their price target on Boston Scientific from $129.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Boston Scientific presently has a consensus rating of “Buy” and an average target price of $123.77.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the completion of the transaction, the executive vice president owned 178,342 shares of the company’s stock, valued at approximately $17,739,678.74. This trade represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ellen M. Zane sold 12,891 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $98.28, for a total value of $1,266,927.48. Following the completion of the transaction, the director directly owned 24,134 shares of the company’s stock, valued at approximately $2,371,889.52. This trade represents a 34.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 143,095 shares of company stock worth $14,228,950. 0.50% of the stock is owned by insiders.

Boston Scientific Stock Down 0.3%

Boston Scientific stock opened at $97.46 on Friday. Boston Scientific Corporation has a fifty-two week low of $85.98 and a fifty-two week high of $109.50. The firm has a market capitalization of $144.48 billion, a price-to-earnings ratio of 52.12, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The stock’s fifty day moving average is $99.27 and its two-hundred day moving average is $102.04. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.51.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data 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. Boston Scientific had a net margin of 14.43% and a return on equity of 19.46%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue for the quarter was up 20.3% compared to the same quarter last year. 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. Analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Boston Scientific 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.