California Public Employees Retirement System Has $323.26 Million Stock Holdings in Boston Scientific Co. (NYSE:BSX)

California Public Employees Retirement System grew its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 6.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,619,112 shares of the medical equipment provider’s stock after acquiring an additional 208,741 shares during the period. California Public Employees Retirement System owned about 0.25% of Boston Scientific worth $323,259,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BSX. Schroder Investment Management Group boosted its holdings in Boston Scientific by 20.7% in the fourth quarter. Schroder Investment Management Group now owns 7,482,062 shares of the medical equipment provider’s stock worth $668,298,000 after acquiring an additional 1,281,005 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Boston Scientific by 9.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,591,958 shares of the medical equipment provider’s stock worth $499,474,000 after purchasing an additional 486,920 shares in the last quarter. L & S Advisors Inc lifted its position in shares of Boston Scientific by 21.1% during the 4th quarter. L & S Advisors Inc now owns 98,710 shares of the medical equipment provider’s stock worth $8,817,000 after buying an additional 17,191 shares in the last quarter. Allianz SE bought a new position in shares of Boston Scientific in the fourth quarter valued at approximately $248,000. Finally, Intrust Bank NA increased its position in shares of Boston Scientific by 7.1% during the fourth quarter. Intrust Bank NA now owns 11,972 shares of the medical equipment provider’s stock valued at $1,069,000 after acquiring an additional 795 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Stifel Nicolaus boosted their price target on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Truist Financial boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. TD Cowen increased their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Piper Sandler upped their target price on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $108.91.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. This trade represents a 75.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the executive vice president now directly owns 28,454 shares in the company, valued at $2,966,329.50. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,302 shares of company stock worth $14,319,269. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Performance

Shares of BSX stock opened at $99.29 on Friday. The firm has a market capitalization of $146.86 billion, a price-to-earnings ratio of 79.43, a PEG ratio of 2.79 and a beta of 0.77. The stock has a fifty day moving average of $102.16 and a 200 day moving average of $93.11. Boston Scientific Co. has a 52 week low of $66.80 and a 52 week high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

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

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.