California State Teachers Retirement System Decreases Holdings in Boston Scientific Co. (NYSE:BSX)

California State Teachers Retirement System lowered its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,348,935 shares of the medical equipment provider's stock after selling 50,330 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Boston Scientific worth $209,807,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BSX. Mechanics Bank Trust Department purchased a new position in shares of Boston Scientific during the 4th quarter worth approximately $415,000. Highland Capital Management LLC purchased a new position in Boston Scientific in the fourth quarter valued at $4,887,000. Covenant Asset Management LLC purchased a new stake in Boston Scientific during the 4th quarter worth about $3,405,000. Brookstone Capital Management raised its position in Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock valued at $9,455,000 after purchasing an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. grew its position in shares of Boston Scientific by 31.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider's stock worth $1,744,000 after buying an additional 4,702 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Stock Performance

Shares of BSX stock traded up $1.75 during midday trading on Friday, hitting $104.94. The company had a trading volume of 7,363,218 shares, compared to its average volume of 6,346,832. Boston Scientific Co. has a 52-week low of $71.82 and a 52-week high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The company's 50 day simple moving average is $98.59 and its 200 day simple moving average is $95.37. The stock has a market cap of $155.21 billion, a price-to-earnings ratio of 83.95, a PEG ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The company had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. During the same period in the previous year, the company posted $0.56 EPS. Boston Scientific's revenue was up 20.9% compared to the same quarter last year. Research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on BSX shares. Wells Fargo & Company raised their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Raymond James increased their target price on Boston Scientific from $119.00 to $122.00 and gave the company a "strong-buy" rating in a report on Thursday, February 6th. Piper Sandler lifted their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Robert W. Baird increased their price objective on Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Morgan Stanley boosted their target price on Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Twenty-three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific currently has a consensus rating of "Buy" and a consensus price target of $114.52.

Insider Buying and Selling

In related news, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares of the company's stock, valued at $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 138,009 shares of company stock valued at $14,407,381 over the last ninety days. Corporate insiders own 0.50% of the company's stock.

About Boston Scientific

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.