New York State Common Retirement Fund Sells 3,597 Shares of Boston Scientific Co. (NYSE:BSX)

New York State Common Retirement Fund lowered its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 0.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,136,971 shares of the medical equipment provider's stock after selling 3,597 shares during the period. New York State Common Retirement Fund owned 0.14% of Boston Scientific worth $190,874,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider's stock worth $345,205,000 after buying an additional 173,034 shares during the last quarter. Mechanics Bank Trust Department purchased a new stake in shares of Boston Scientific in the 4th quarter worth approximately $415,000. Highland Capital Management LLC purchased a new stake in shares of Boston Scientific in the 4th quarter worth approximately $4,887,000. Covenant Asset Management LLC purchased a new stake in shares of Boston Scientific in the 4th quarter worth approximately $3,405,000. Finally, Brookstone Capital Management grew its stake in shares of Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock worth $9,455,000 after buying an additional 20,307 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Stock Performance

Boston Scientific stock traded down $0.93 during trading on Friday, reaching $104.44. The company had a trading volume of 5,512,880 shares, compared to its average volume of 6,033,932. Boston Scientific Co. has a 52 week low of $65.52 and a 52 week high of $107.17. The firm's 50-day simple moving average is $97.69 and its 200 day simple moving average is $89.06. The firm has a market capitalization of $154.12 billion, a price-to-earnings ratio of 83.55, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Sell-side analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the sale, the executive vice president now owns 5,502 shares of the company's stock, valued at $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel J. Brennan sold 15,087 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the sale, the chief financial officer now directly owns 241,451 shares of the company's stock, valued at approximately $25,369,256.57. The trade was a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 153,640 shares of company stock worth $15,718,289 over the last 90 days. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BSX. Morgan Stanley upped their price target on Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. UBS Group increased their target price on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Barclays increased their target price on Boston Scientific from $111.00 to $118.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Truist Financial increased their target price on Boston Scientific from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Finally, Mizuho increased their target price on Boston Scientific from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $107.39.

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.