TIAA Trust National Association Has $23.38 Million Stock Position in Boston Scientific Corporation (NYSE:BSX)

TIAA Trust National Association trimmed its position in Boston Scientific Corporation (NYSE:BSX) by 7.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 231,718 shares of the medical equipment provider’s stock after selling 19,371 shares during the quarter. TIAA Trust National Association’s holdings in Boston Scientific were worth $23,376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Baker Avenue Asset Management LP acquired a new stake in shares of Boston Scientific in the first quarter worth $2,774,000. Strategic Advocates LLC bought a new position in Boston Scientific during the first quarter worth $2,007,000. Moors & Cabot Inc. increased its position in Boston Scientific by 3.0% during the first quarter. Moors & Cabot Inc. now owns 27,100 shares of the medical equipment provider’s stock worth $2,734,000 after acquiring an additional 778 shares during the period. Alberta Investment Management Corp bought a new position in Boston Scientific during the first quarter worth $8,466,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Boston Scientific by 86.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 21,781 shares of the medical equipment provider’s stock worth $2,197,000 after acquiring an additional 10,070 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Up 0.5%

Shares of NYSE BSX opened at $105.40 on Friday. The firm’s 50-day simple moving average is $103.63 and its 200 day simple moving average is $101.90. The company has a market cap of $155.93 billion, a price-to-earnings ratio of 62.74, a price-to-earnings-growth ratio of 2.54 and a beta of 0.66. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $108.94.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The firm’s quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. On average, research analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Citigroup reaffirmed a “buy” rating and set a $125.00 target price (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Jefferies Financial Group reissued a “hold” rating on shares of Boston Scientific in a report on Monday, July 21st. Robert W. Baird boosted their price target on shares of Boston Scientific from $117.00 to $123.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Finally, Leerink Partnrs raised shares of Boston Scientific to a “strong-buy” rating in a report on Monday, June 16th. Two analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $117.50.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the transaction, the executive vice president directly owned 178,342 shares in the company, valued at approximately $18,347,824.96. This represents a 24.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the transaction, the chief executive officer owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. The trade was a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 282,288 shares of company stock worth $29,411,601. Insiders own 0.50% of the company’s stock.

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.