New York State Common Retirement Fund Cuts Position in Boston Scientific Corporation $BSX

New York State Common Retirement Fund decreased its position in Boston Scientific Corporation (NYSE:BSX) by 7.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,923,521 shares of the medical equipment provider’s stock after selling 159,813 shares during the quarter. New York State Common Retirement Fund owned 0.13% of Boston Scientific worth $187,793,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BSX. Norges Bank purchased a new stake in shares of Boston Scientific during the 2nd quarter worth $2,089,937,000. Edgewood Management LLC acquired a new stake in Boston Scientific in the second quarter valued at $746,655,000. Parnassus Investments LLC lifted its holdings in Boston Scientific by 42,978.9% during the 3rd quarter. Parnassus Investments LLC now owns 6,884,440 shares of the medical equipment provider’s stock worth $672,128,000 after buying an additional 6,868,459 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Boston Scientific by 14,391.8% during the 2nd quarter. Bessemer Group Inc. now owns 2,919,801 shares of the medical equipment provider’s stock worth $313,618,000 after acquiring an additional 2,899,653 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Boston Scientific by 133.5% in the 3rd quarter. Jennison Associates LLC now owns 4,938,746 shares of the medical equipment provider’s stock valued at $482,170,000 after acquiring an additional 2,823,744 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Up 0.1%

NYSE:BSX opened at $93.74 on Thursday. Boston Scientific Corporation has a 12-month low of $85.98 and a 12-month high of $109.50. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. The stock’s 50 day simple moving average is $95.36 and its 200-day simple moving average is $99.65. The firm has a market cap of $138.96 billion, a P/E ratio of 50.13, a PEG ratio of 1.66 and a beta of 0.67.

Insiders Place Their Bets

In other news, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $101.55, for a total value of $1,758,135.15. Following the completion of the sale, the executive vice president owned 23,600 shares in the company, valued at approximately $2,396,580. This trade represents a 42.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business’s stock in a transaction dated 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 owned 178,342 shares in the company, valued at approximately $17,739,678.74. This trade represents a 21.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 80,204 shares of company stock worth $7,998,563. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BSX shares. The Goldman Sachs Group restated a “buy” rating and set a $112.00 target price on shares of Boston Scientific in a research note on Friday, January 9th. Royal Bank Of Canada lifted their price target on shares of Boston Scientific from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. TD Cowen reaffirmed a “buy” rating on shares of Boston Scientific in a report on Thursday, December 11th. Evercore ISI set a $112.00 price target on Boston Scientific in a research note on Monday, January 5th. Finally, Oppenheimer lowered their target price on shares of Boston Scientific from $125.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $123.89.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.