Teacher Retirement System of Texas Sells 136,256 Shares of Boston Scientific Corporation $BSX

Teacher Retirement System of Texas lessened its holdings in Boston Scientific Corporation (NYSE:BSX) by 14.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 795,537 shares of the medical equipment provider’s stock after selling 136,256 shares during the quarter. Teacher Retirement System of Texas’ holdings in Boston Scientific were worth $77,668,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Steph & Co. bought a new stake in Boston Scientific during the 3rd quarter worth about $25,000. Financial Consulate Inc. acquired a new stake in shares of Boston Scientific in the third quarter valued at about $25,000. FWL Investment Management LLC bought a new stake in Boston Scientific during the second quarter worth about $26,000. Sound Income Strategies LLC boosted its position in Boston Scientific by 90.9% during the second quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Finally, Kilter Group LLC bought a new position in Boston Scientific in the second quarter valued at approximately $30,000. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BSX. The Goldman Sachs Group reiterated a “buy” rating and set a $112.00 price objective on shares of Boston Scientific in a research note on Friday, January 9th. TD Cowen reiterated a “buy” rating on shares of Boston Scientific in a research note on Thursday, December 11th. Leerink Partners lifted their price objective on shares of Boston Scientific from $127.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Finally, Barclays raised their target price on shares of Boston Scientific from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.89.

Boston Scientific Stock Performance

NYSE:BSX opened at $91.32 on Friday. The stock has a market cap of $135.38 billion, a P/E ratio of 48.83, a PEG ratio of 1.62 and a beta of 0.67. The stock has a 50 day simple moving average of $95.90 and a 200 day simple moving average of $99.95. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a 1-year low of $85.98 and a 1-year high of $109.50.

Boston Scientific (NYSE:BSX) last issued 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 firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same period in the prior year, the firm posted $0.63 EPS. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. Research analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the transaction, the executive vice president directly owned 23,600 shares of the company’s stock, valued at approximately $2,396,580. This trade represents a 42.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ellen M. Zane sold 12,891 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 24,134 shares of the company’s stock, valued at $2,371,889.52. This represents a 34.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 93,095 shares of company stock worth $9,305,450. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Company Profile

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.