New York State Common Retirement Fund Sells 33,043 Shares of Boston Scientific Corporation (NYSE:BSX)

New York State Common Retirement Fund decreased its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,103,928 shares of the medical equipment provider's stock after selling 33,043 shares during the period. New York State Common Retirement Fund owned approximately 0.14% of Boston Scientific worth $212,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Parnassus Investments LLC lifted its stake in shares of Boston Scientific by 0.7% in the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock worth $1,327,000 after acquiring an additional 97 shares during the period. HM Payson & Co. lifted its position in Boston Scientific by 1.4% in the 1st quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider's stock worth $694,000 after buying an additional 98 shares in the last quarter. Baldwin Investment Management LLC lifted its position in Boston Scientific by 1.2% in the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock worth $781,000 after buying an additional 102 shares in the last quarter. Park Square Financial Group LLC lifted its position in Boston Scientific by 5.2% in the 1st quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider's stock worth $208,000 after buying an additional 103 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its stake in shares of Boston Scientific by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock worth $565,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BSX shares. Morgan Stanley increased their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Citigroup reissued a "buy" rating and issued a $125.00 price target (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Leerink Partnrs raised shares of Boston Scientific to a "strong-buy" rating in a report on Monday, June 16th. Royal Bank Of Canada lifted their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Wall Street Zen raised shares of Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Twenty-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $116.09.

Boston Scientific Stock Performance

BSX traded up $0.48 during trading hours on Monday, reaching $103.68. The company's stock had a trading volume of 1,279,427 shares, compared to its average volume of 7,604,941. The firm has a market cap of $153.39 billion, a PE ratio of 75.68, a price-to-earnings-growth ratio of 2.68 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The company's 50-day moving average is $103.42 and its 200-day moving average is $100.66. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $107.53.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. The business's revenue was up 20.9% on a year-over-year basis. On average, equities analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the sale, the senior vice president owned 36,193 shares of the company's stock, valued at $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the sale, the executive vice president directly owned 178,342 shares of the company's stock, valued at $18,347,824.96. This represents a 24.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 461,970 shares of company stock valued at $47,755,193 in the last three months. Insiders own 0.50% of the company's stock.

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.