New Mexico Educational Retirement Board Has $6.27 Million Position in Boston Scientific Co. (NYSE:BSX)

New Mexico Educational Retirement Board reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,162 shares of the medical equipment provider’s stock after selling 1,700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Boston Scientific were worth $6,267,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in BSX. AustralianSuper Pty Ltd boosted its holdings in shares of Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after purchasing an additional 2,615,903 shares during the period. State Street Corp boosted its holdings in shares of Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after purchasing an additional 1,389,172 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Boston Scientific by 98.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock valued at $184,810,000 after acquiring an additional 1,091,561 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Boston Scientific by 32.3% in the third quarter. Assenagon Asset Management S.A. now owns 3,897,117 shares of the medical equipment provider’s stock valued at $326,578,000 after acquiring an additional 951,580 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its stake in Boston Scientific by 17.5% in the third quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after acquiring an additional 815,403 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Trading Up 0.1 %

Shares of Boston Scientific stock opened at $106.20 on Friday. The firm has a market capitalization of $156.51 billion, a PE ratio of 84.96, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The company’s fifty day moving average price is $96.11 and its two-hundred day moving average price is $87.97. Boston Scientific Co. has a 52-week low of $65.33 and a 52-week high of $107.17.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. On average, analysts expect that Boston Scientific Co. will post 2.83 EPS for the current year.

Insider Activity

In related news, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now owns 39,398 shares in the company, valued at $3,610,038.74. This represents a 11.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,326 shares of company stock worth $8,673,948. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on BSX shares. Morgan Stanley lifted their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Stifel Nicolaus lifted their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Truist Financial lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Friday, January 10th. Finally, Piper Sandler lifted their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boston Scientific currently has a consensus rating of “Buy” and a consensus price target of $107.39.

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.