California Public Employees Retirement System Buys 112,222 Shares of Boston Scientific Co. (NYSE:BSX)

California Public Employees Retirement System lifted its stake in Boston Scientific Co. (NYSE:BSX) by 3.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,798,511 shares of the medical equipment provider’s stock after buying an additional 112,222 shares during the period. California Public Employees Retirement System’s holdings in Boston Scientific were worth $219,592,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bruce G. Allen Investments LLC bought a new position in shares of Boston Scientific in the fourth quarter worth approximately $28,000. Motco grew its holdings in Boston Scientific by 136.3% in the 3rd quarter. Motco now owns 645 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 372 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Boston Scientific by 58.0% in the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 215 shares during the last quarter. Asset Dedication LLC increased its position in shares of Boston Scientific by 42.6% in the third quarter. Asset Dedication LLC now owns 786 shares of the medical equipment provider’s stock valued at $41,000 after acquiring an additional 235 shares during the period. Finally, CNB Bank bought a new stake in shares of Boston Scientific in the third quarter worth about $42,000. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares in the company, valued at approximately $3,779,820.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The disclosure for this sale can be found here. Insiders have sold a total of 50,979 shares of company stock valued at $3,418,529 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Mizuho upgraded Boston Scientific from a “neutral” rating to a “buy” rating and boosted their price target for the company from $65.00 to $80.00 in a report on Thursday, February 1st. TD Cowen upped their target price on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Oppenheimer lifted their price target on shares of Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a report on Thursday, February 1st. Citigroup upped their price objective on shares of Boston Scientific from $71.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Evercore ISI raised their target price on shares of Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $68.50.

Boston Scientific Stock Performance

Shares of BSX stock traded up $0.51 on Tuesday, reaching $68.53. The stock had a trading volume of 1,691,634 shares, compared to its average volume of 6,330,170. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $69.21. The stock has a market cap of $100.54 billion, a P/E ratio of 63.57, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. The company has a 50 day simple moving average of $67.31 and a 200 day simple moving average of $60.07.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the previous year, the company posted $0.45 EPS. Equities research analysts expect that Boston Scientific Co. will post 2.25 EPS for the current 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.