Texas Permanent School Fund Sells 13,626 Shares of Boston Scientific Corporation (NYSE:BSX)

Texas Permanent School Fund lowered its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 384,761 shares of the medical equipment provider’s stock after selling 13,626 shares during the period. Texas Permanent School Fund’s holdings in Boston Scientific Corporation were worth $10,666,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BSX. Bronfman E.L. Rothschild L.P. raised its stake in shares of Boston Scientific Corporation by 7.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,041 shares of the medical equipment provider’s stock valued at $125,000 after buying an additional 338 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Boston Scientific Corporation by 10.3% in the first quarter. Quadrant Capital Group LLC now owns 5,201 shares of the medical equipment provider’s stock valued at $122,000 after buying an additional 487 shares during the period. Guardian Life Insurance Co. of America raised its position in Boston Scientific Corporation by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 5,266 shares of the medical equipment provider’s stock worth $131,000 after buying an additional 49 shares during the last quarter. Parametrica Management Ltd purchased a new position in Boston Scientific Corporation during the second quarter worth $219,000. Finally, Commerce Bank purchased a new position in Boston Scientific Corporation during the first quarter worth $207,000. Institutional investors own 92.11% of the company’s stock.

Boston Scientific Corporation (BSX) traded down 0.22% during midday trading on Friday, reaching $26.99. 4,133,710 shares of the company were exchanged. The firm’s 50 day moving average price is $27.74 and its 200-day moving average price is $25.82. Boston Scientific Corporation has a 52 week low of $19.67 and a 52 week high of $28.51. The stock has a market capitalization of $36.96 billion, a P/E ratio of 86.51 and a beta of 1.10.

Boston Scientific Corporation (NYSE:BSX) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. Boston Scientific Corporation had a net margin of 5.07% and a return on equity of 23.45%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same quarter in the previous year, the company posted $0.27 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts forecast that Boston Scientific Corporation will post $1.25 EPS for the current fiscal year.

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BSX has been the subject of a number of recent analyst reports. Oppenheimer Holdings, Inc. set a $27.00 price target on shares of Boston Scientific Corporation and gave the stock a “hold” rating in a research report on Friday, April 28th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Boston Scientific Corporation in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $28.00 price target for the company. Stifel Nicolaus upped their price target on shares of Boston Scientific Corporation from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Wednesday, June 28th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target (up from $29.00) on shares of Boston Scientific Corporation in a research report on Thursday, April 27th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $31.00 price target (up from $27.00) on shares of Boston Scientific Corporation in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $29.78.

In other Boston Scientific Corporation news, EVP Timothy A. Pratt sold 10,000 shares of Boston Scientific Corporation stock in a transaction on Monday, May 1st. The shares were sold at an average price of $26.37, for a total transaction of $263,700.00. Following the sale, the executive vice president now owns 225,846 shares of the company’s stock, valued at approximately $5,955,559.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kevin J. Ballinger sold 28,864 shares of Boston Scientific Corporation stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $26.14, for a total transaction of $754,504.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,556 shares of company stock worth $5,419,452. 0.74% of the stock is currently owned by corporate insiders.

About Boston Scientific Corporation

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.

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