Texas Permanent School Fund Corp Reduces Stock Position in Boston Scientific Corporation $BSX

Texas Permanent School Fund Corp decreased its position in shares of Boston Scientific Corporation (NYSE:BSX) by 24.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,914 shares of the medical equipment provider’s stock after selling 51,169 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Boston Scientific were worth $17,284,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. FWL Investment Management LLC purchased a new stake in Boston Scientific during the second quarter worth $26,000. Sound Income Strategies LLC increased its position in shares of Boston Scientific by 90.9% in the second quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 120 shares in the last quarter. 1248 Management LLC acquired a new position in shares of Boston Scientific during the 1st quarter worth $26,000. Kilter Group LLC purchased a new stake in shares of Boston Scientific in the 2nd quarter worth about $30,000. Finally, Princeton Global Asset Management LLC acquired a new stake in Boston Scientific in the 2nd quarter valued at about $32,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BSX. Cowen reaffirmed a “buy” rating on shares of Boston Scientific in a report on Thursday. UBS Group upped their target price on Boston Scientific from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Barclays increased their target price on Boston Scientific from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Truist Financial boosted their price target on Boston Scientific from $129.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Boston Scientific in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $124.43.

Boston Scientific Trading Up 0.9%

Shares of Boston Scientific stock opened at $92.58 on Monday. Boston Scientific Corporation has a fifty-two week low of $85.98 and a fifty-two week high of $109.50. The business’s fifty day moving average is $98.85 and its two-hundred day moving average is $101.59. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.47. The firm has a market cap of $137.24 billion, a PE ratio of 49.51, a P/E/G ratio of 1.86 and a beta of 0.67.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was up 20.3% on a year-over-year basis. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS and its Q4 2025 guidance at 0.770-0.790 EPS. Analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Activity

In related news, Director Ellen M. Zane sold 12,891 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the completion of the transaction, the director owned 24,134 shares of the company’s stock, valued at approximately $2,371,889.52. This represents a 34.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the transaction, the executive vice president directly owned 178,342 shares in the company, valued at approximately $17,739,678.74. This represents a 21.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 143,095 shares of company stock valued at $14,228,950 in the last 90 days. 0.50% of the stock is currently owned by insiders.

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.