New York State Teachers Retirement System Sells 59,915 Shares of Boston Scientific Corporation (NYSE:BSX)

New York State Teachers Retirement System trimmed its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 4.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,225,222 shares of the medical equipment provider's stock after selling 59,915 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Boston Scientific worth $123,600,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank Pictet & Cie Europe AG increased its holdings in Boston Scientific by 40.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after purchasing an additional 21,173 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of Boston Scientific by 18.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider's stock valued at $3,987,000 after buying an additional 6,264 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Boston Scientific by 13.0% in the first quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider's stock valued at $504,000 after buying an additional 575 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in Boston Scientific by 109.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider's stock worth $24,126,000 after buying an additional 141,398 shares during the last quarter. Finally, Little House Capital LLC bought a new position in shares of Boston Scientific in the 1st quarter worth about $945,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

Boston Scientific stock traded down $2.59 during mid-day trading on Tuesday, reaching $104.82. The company's stock had a trading volume of 8,530,852 shares, compared to its average volume of 6,642,227. The company has a market capitalization of $155.08 billion, a P/E ratio of 76.51, a PEG ratio of 2.79 and a beta of 0.68. The firm's fifty day moving average price is $103.02 and its two-hundred day moving average price is $99.80. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $108.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. During the same period in the prior year, the firm posted $0.56 earnings per share. The company's revenue for the quarter was up 20.9% on a year-over-year basis. Sell-side analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,314 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the sale, the executive vice president owned 22,235 shares of the company's stock, valued at $2,269,304.10. This represents a 43.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the transaction, the chief executive officer directly owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. This represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock valued at $42,406,693 over the last 90 days. Insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BSX. Robert W. Baird increased their target price on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Citigroup restated a "buy" rating and issued a $125.00 target price (up previously from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Wall Street Zen raised Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. BTIG Research reissued a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a research report on Wednesday, April 23rd. Finally, Evercore ISI lifted their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Twenty-two analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of "Buy" and a consensus price target of $116.09.

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.