Teachers Retirement System of The State of Kentucky Sells 29,804 Shares of Boston Scientific Co. (NYSE:BSX)

Teachers Retirement System of The State of Kentucky cut its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 11.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 225,324 shares of the medical equipment provider's stock after selling 29,804 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Boston Scientific were worth $20,126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Boston Scientific in the fourth quarter worth $1,762,522,000. Capital World Investors grew its stake in shares of Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after acquiring an additional 6,216,199 shares during the period. Wellington Management Group LLP raised its holdings in shares of Boston Scientific by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock valued at $3,230,293,000 after purchasing an additional 3,344,571 shares during the last quarter. Axiom Investors LLC DE lifted its position in Boston Scientific by 208.2% during the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider's stock valued at $335,167,000 after purchasing an additional 2,535,007 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Boston Scientific in the fourth quarter worth approximately $190,780,000. Institutional investors own 89.07% of the company's stock.

Insider Activity

In other news, CFO Daniel J. Brennan sold 67,333 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the sale, the chief financial officer now owns 225,808 shares of the company's stock, valued at approximately $23,764,033.92. This represents a 22.97 % 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 Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares in the company, valued at $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,009 shares of company stock valued at $14,407,381 in the last ninety days. Insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

BSX has been the topic of several research analyst reports. Argus set a $130.00 price target on Boston Scientific in a report on Tuesday, February 18th. Wells Fargo & Company increased their target price on Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Piper Sandler boosted their price target on Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Stifel Nicolaus increased their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, February 6th. Finally, UBS Group boosted their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, February 7th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $114.52.

Boston Scientific Price Performance

BSX stock traded up $0.82 during mid-day trading on Friday, hitting $101.96. The company had a trading volume of 5,412,875 shares, compared to its average volume of 6,374,151. Boston Scientific Co. has a 12-month low of $70.97 and a 12-month high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average price of $98.75 and a 200 day moving average price of $94.69. The company has a market capitalization of $150.81 billion, a price-to-earnings ratio of 81.57, a P/E/G ratio of 2.79 and a beta of 0.73.

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 the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. On average, research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.