California State Teachers Retirement System Sells 57,751 Shares of Boston Scientific Corporation $BSX

Key Points

• CalSTRS reduced its Boston Scientific stake by 2.4%, selling 57,751 shares and retaining 2.30 million shares valued at approximately $144.3 million. Institutional investors own 89.07% of BSX.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $78.40 price target, although several firms recently lowered their targets. Boston Scientific also authorized a $5 billion share-repurchase program covering up to 6.4% of outstanding shares.
• Recent developments include a restructuring plan expected to generate roughly $500 million in annual savings by 2029, but the initiative may involve job cuts and about $700 million in restructuring costs. Investors are also watching upcoming earnings and progress in the FARAFLEX atrial-fibrillation trial.

California State Teachers Retirement System lowered its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,299,954 shares of the medical equipment provider's stock after selling 57,751 shares during the quarter. California State Teachers Retirement System owned 0.15% of Boston Scientific worth $144,322,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Outfitters Financial LLC raised its holdings in shares of Boston Scientific by 0.5% in the fourth quarter. Outfitters Financial LLC now owns 24,027 shares of the medical equipment provider's stock valued at $2,291,000 after purchasing an additional 110 shares during the last quarter. Natural Investments LLC increased its stake in Boston Scientific by 2.9% in the 4th quarter. Natural Investments LLC now owns 4,036 shares of the medical equipment provider's stock valued at $384,000 after buying an additional 112 shares during the last quarter. Patton Fund Management Inc. lifted its position in shares of Boston Scientific by 5.5% during the 4th quarter. Patton Fund Management Inc. now owns 2,279 shares of the medical equipment provider's stock worth $217,000 after buying an additional 118 shares in the last quarter. Bridgewater Advisors Inc. boosted its stake in shares of Boston Scientific by 1.2% in the 4th quarter. Bridgewater Advisors Inc. now owns 10,051 shares of the medical equipment provider's stock worth $921,000 after buying an additional 123 shares during the last quarter. Finally, Earned Wealth Advisors LLC grew its holdings in shares of Boston Scientific by 5.2% in the fourth quarter. Earned Wealth Advisors LLC now owns 2,647 shares of the medical equipment provider's stock valued at $252,000 after acquiring an additional 131 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boston Scientific

In related news, Director David C. Habiger bought 2,250 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were purchased at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the completion of the transaction, the director directly owned 13,878 shares in the company, valued at approximately $776,057.76. The trade was a 19.35% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Cheryl Pegus purchased 1,770 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $56.49 per share, with a total value of $99,987.30. Following the completion of the acquisition, the director directly owned 1,770 shares of the company's stock, valued at approximately $99,987.30. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 9,800 shares of company stock valued at $554,012 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on BSX. Stifel Nicolaus dropped their price target on Boston Scientific from $75.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, June 25th. Bank of America decreased their target price on Boston Scientific from $105.00 to $68.00 and set a "buy" rating for the company in a research report on Monday, May 18th. Barclays lowered their target price on Boston Scientific from $96.00 to $89.00 and set an "overweight" rating on the stock in a research note on Thursday, May 28th. BTIG Research restated a "buy" rating and set a $65.00 price target on shares of Boston Scientific in a research report on Tuesday, June 16th. Finally, Mizuho decreased their price objective on shares of Boston Scientific from $90.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Boston Scientific has a consensus rating of "Moderate Buy" and a consensus price target of $78.40.

Boston Scientific Stock Performance

Shares of BSX stock opened at $46.04 on Wednesday. The firm's 50 day moving average is $46.78 and its 200 day moving average is $63.10. The stock has a market capitalization of $68.44 billion, a P/E ratio of 19.27, a PEG ratio of 0.87 and a beta of 0.58. Boston Scientific Corporation has a 12 month low of $42.20 and a 12 month high of $109.50. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42.

Boston Scientific announced that its Board of Directors has authorized a stock buyback plan on Monday, May 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical equipment provider to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Key Boston Scientific News

Here are the key news stories impacting Boston Scientific this week:

• Positive Sentiment: Boston Scientific’s board approved a global restructuring plan expected to generate approximately $500 million in annual cost savings by 2029. Management says the initiative is intended to improve efficiency and support future growth, which may strengthen long-term profitability. Reuters restructuring report
• Positive Sentiment: Investors are positioning ahead of Wednesday’s second-quarter results. Analysts reportedly expect revenue growth of about 5.9%, creating a potential catalyst if Boston Scientific delivers stronger-than-expected sales or guidance. Q2 earnings preview
• Positive Sentiment: The company’s FARAFLEX trial is advancing its pulsed-field ablation program for atrial fibrillation, potentially supporting Boston Scientific’s position in the growing cardiac-rhythm-treatment market. FARAFLEX trial update
• Neutral Sentiment: UBS maintained a Buy rating despite lowering its price target to $74 from $95. Oppenheimer likewise cut its target to $85 but retained an Outperform rating, indicating continued confidence but more cautious valuation assumptions. UBS price-target update
• Negative Sentiment: The restructuring will involve job cuts through 2029 and approximately $700 million in restructuring costs, creating near-term execution, employee-disruption and cash-flow concerns even though the plan promises future savings. Restructuring and job cuts report

Boston Scientific Profile

Boston Scientific Corporation NYSE: BSX is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific's activities span product development, clinical research, regulatory affairs and commercial sales.

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