California Public Employees Retirement System Raises Stock Holdings in Boston Scientific Co. (NYSE:BSX)

California Public Employees Retirement System grew its stake in shares of Boston Scientific Co. (NYSE:BSX) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,619,112 shares of the medical equipment provider’s stock after acquiring an additional 208,741 shares during the quarter. California Public Employees Retirement System’s holdings in Boston Scientific were worth $323,259,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. TFC Financial Management Inc. boosted its holdings in Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares during the last quarter. Global Wealth Strategies & Associates lifted its holdings in shares of Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 250 shares during the period. West Oak Capital LLC purchased a new position in shares of Boston Scientific in the 4th quarter worth $29,000. Dunhill Financial LLC grew its holdings in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 152 shares during the period. Finally, Valley National Advisers Inc. increased its position in Boston Scientific by 262.4% during the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 286 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $99.29 on Friday. The firm has a market cap of $146.86 billion, a price-to-earnings ratio of 79.43, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a fifty-two week low of $66.80 and a fifty-two week high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm has a fifty day moving average price of $102.16 and a 200 day moving average price of $93.11.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup raised their target price on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Raymond James raised their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. UBS Group lifted their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Canaccord Genuity Group upped their price objective on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $108.91.

Insider Activity

In other Boston Scientific news, EVP John Bradley Sorenson sold 1,201 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the completion of the transaction, the executive vice president now owns 25,443 shares in the company, valued at $2,704,845.33. This trade represents a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the sale, the executive vice president now owns 28,454 shares in the company, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,302 shares of company stock worth $14,319,269. 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.