New York State Common Retirement Fund Sells 108,241 Shares of Boston Scientific Co. (NYSE:BSX)

New York State Common Retirement Fund cut its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,140,568 shares of the medical equipment provider's stock after selling 108,241 shares during the period. New York State Common Retirement Fund owned approximately 0.15% of Boston Scientific worth $179,380,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Eagle Bay Advisors LLC lifted its position in Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 309 shares in the last quarter. First Foundation Advisors purchased a new stake in shares of Boston Scientific during the first quarter valued at approximately $25,000. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific during the second quarter valued at approximately $26,000. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific during the third quarter valued at approximately $28,000. Finally, Andra AP fonden purchased a new stake in shares of Boston Scientific during the second quarter valued at approximately $29,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Canaccord Genuity Group lifted their price target on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Barclays lifted their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Needham & Company LLC restated a "hold" rating on shares of Boston Scientific in a research note on Thursday. Finally, Wells Fargo & Company boosted their target price on shares of Boston Scientific from $87.00 to $98.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $93.39.

Insider Activity

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock worth $26,196,718 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Trading Down 0.1 %

NYSE BSX traded down $0.06 during trading hours on Friday, hitting $83.96. 3,408,740 shares of the company's stock were exchanged, compared to its average volume of 6,088,627. The stock has a 50-day simple moving average of $83.91 and a 200 day simple moving average of $78.17. Boston Scientific Co. has a 1-year low of $50.84 and a 1-year high of $88.79. The firm has a market cap of $123.64 billion, a price-to-earnings ratio of 69.44, a PEG ratio of 2.47 and a beta of 0.80. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.41% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to analysts' expectations of $4.04 billion. During the same quarter last year, the firm posted $0.50 earnings per share. The company's revenue for the quarter was up 19.3% compared to the same quarter last year. On average, equities analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

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.