California State Teachers Retirement System Trims Stake in Boston Scientific Corporation $BSX

California State Teachers Retirement System trimmed its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,299,954 shares of the medical equipment provider’s stock after selling 57,751 shares during the quarter. California State Teachers Retirement System’s holdings in Boston Scientific were worth $144,322,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Boston Scientific by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider’s stock valued at $13,319,060,000 after acquiring an additional 1,436,550 shares during the last quarter. State Street Corp grew its position in Boston Scientific by 1.4% during the 4th quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider’s stock worth $6,278,422,000 after acquiring an additional 920,495 shares during the last quarter. Capital World Investors grew its holdings in shares of Boston Scientific by 1.9% in the fourth quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider’s stock worth $2,588,953,000 after purchasing an additional 502,627 shares during the last quarter. Norges Bank purchased a new position in shares of Boston Scientific in the fourth quarter valued at about $2,199,395,000. Finally, Morgan Stanley increased its holdings in Boston Scientific by 10.8% during the 4th quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider’s stock valued at $2,189,289,000 after purchasing an additional 2,246,308 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX opened at $46.04 on Wednesday. Boston Scientific Corporation has a 52 week low of $42.20 and a 52 week high of $109.50. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42. The stock has a market cap of $68.44 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 0.87 and a beta of 0.58. The business has a 50-day simple moving average of $46.78 and a two-hundred day simple moving average of $63.10.

Boston Scientific declared that its board has authorized a stock repurchase plan on Monday, May 18th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical equipment provider to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Boston Scientific news, Director Cheryl Pegus bought 1,770 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the completion of the transaction, the director owned 1,770 shares of the company’s stock, valued at $99,987.30. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward J. Ludwig acquired 3,580 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $56.68 per share, with a total value of $202,914.40. Following the completion of the acquisition, the director owned 25,359 shares in the company, valued at approximately $1,437,348.12. This represents a 16.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 9,800 shares of company stock worth $554,012 over the last three months. 0.34% of the stock is currently owned by company insiders.

Key Stories Impacting Boston Scientific

Here are the key news stories impacting Boston Scientific this week:

• Positive Sentiment: Boston Scientific’s board approved a global restructuring plan expected to generate approximately $500 million in annual cost savings by 2029. Management says the initiative is intended to improve efficiency and support future growth, which may strengthen long-term profitability. Reuters restructuring report
• Positive Sentiment: Investors are positioning ahead of Wednesday’s second-quarter results. Analysts reportedly expect revenue growth of about 5.9%, creating a potential catalyst if Boston Scientific delivers stronger-than-expected sales or guidance. Q2 earnings preview
• Positive Sentiment: The company’s FARAFLEX trial is advancing its pulsed-field ablation program for atrial fibrillation, potentially supporting Boston Scientific’s position in the growing cardiac-rhythm-treatment market. FARAFLEX trial update
• Neutral Sentiment: UBS maintained a Buy rating despite lowering its price target to $74 from $95. Oppenheimer likewise cut its target to $85 but retained an Outperform rating, indicating continued confidence but more cautious valuation assumptions. UBS price-target update
• Negative Sentiment: The restructuring will involve job cuts through 2029 and approximately $700 million in restructuring costs, creating near-term execution, employee-disruption and cash-flow concerns even though the plan promises future savings. Restructuring and job cuts report

Analysts Set New Price Targets

A number of brokerages have issued reports on BSX. Wells Fargo & Company reissued an “equal weight” rating and set a $55.00 price objective (down from $75.00) on shares of Boston Scientific in a research report on Thursday, May 28th. Evercore set a $65.00 price target on Boston Scientific in a research note on Monday, July 6th. Oppenheimer reduced their price objective on shares of Boston Scientific from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday. Leerink Partners reduced their target price on Boston Scientific from $87.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, May 28th. Finally, Robert W. Baird set a $70.00 price target on shares of Boston Scientific in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.40.

Boston Scientific 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.