Texas Permanent School Fund Corp Sells 925 Shares of Boston Scientific Co. (NYSE:BSX)

Texas Permanent School Fund Corp cut its holdings in Boston Scientific Co. (NYSE:BSX) by 0.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,900 shares of the medical equipment provider’s stock after selling 925 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Boston Scientific were worth $20,746,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pinnacle Associates Ltd. grew its position in shares of Boston Scientific by 2.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after buying an additional 148 shares during the period. Hazlett Burt & Watson Inc. grew its position in shares of Boston Scientific by 24.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 826 shares of the medical equipment provider’s stock worth $57,000 after buying an additional 160 shares during the period. BSW Wealth Partners grew its position in Boston Scientific by 2.3% during the 4th quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock valued at $428,000 after purchasing an additional 165 shares during the last quarter. Allstate Corp grew its position in Boston Scientific by 2.9% during the 4th quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock valued at $343,000 after purchasing an additional 165 shares during the last quarter. Finally, First Affirmative Financial Network grew its position in Boston Scientific by 4.3% during the 1st quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider’s stock valued at $276,000 after purchasing an additional 166 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the sale, the executive vice president now owns 20,197 shares in the company, valued at $1,521,641.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the transaction, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,259 shares of company stock worth $5,344,014. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Down 0.3 %

Shares of BSX stock traded down $0.23 on Thursday, hitting $76.88. The stock had a trading volume of 5,818,334 shares, compared to its average volume of 6,174,540. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $75.61 and a 200 day moving average price of $68.75. The company has a market cap of $112.79 billion, a PE ratio of 64.61, a P/E/G ratio of 2.62 and a beta of 0.78. Boston Scientific Co. has a one year low of $48.35 and a one year high of $77.99.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.68 billion. Research analysts anticipate that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BSX has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of Boston Scientific from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI increased their price objective on shares of Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Raymond James increased their price objective on shares of Boston Scientific from $73.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. raised their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, Barclays raised their price target on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $78.29.

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.