New Mexico Educational Retirement Board Sells 1,700 Shares of Boston Scientific Co. (NYSE:BSX)

New Mexico Educational Retirement Board cut its stake in Boston Scientific Co. (NYSE:BSX) by 2.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 70,162 shares of the medical equipment provider’s stock after selling 1,700 shares during the period. New Mexico Educational Retirement Board’s holdings in Boston Scientific were worth $6,267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp increased its stake in shares of Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Boston Scientific by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after acquiring an additional 718,515 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Boston Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after acquiring an additional 480,729 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Boston Scientific by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after purchasing an additional 64,720 shares in the last quarter. Finally, Impax Asset Management Group plc increased its stake in Boston Scientific by 17.5% during the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after purchasing an additional 815,403 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Daniel J. Brennan sold 15,087 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total value of $1,585,191.09. Following the transaction, the chief financial officer now owns 241,451 shares in the company, valued at approximately $25,369,256.57. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares in the company, valued at $87,306.06. The trade was a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,326 shares of company stock worth $8,673,948 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 0.1 %

Shares of Boston Scientific stock opened at $106.20 on Friday. 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 has a market capitalization of $156.51 billion, a price-to-earnings ratio of 84.96, a P/E/G ratio of 2.79 and a beta of 0.80. The business has a fifty day simple moving average of $96.11 and a two-hundred day simple moving average of $87.97. Boston Scientific Co. has a 1 year low of $65.33 and a 1 year high of $107.17.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. Research analysts forecast that Boston Scientific Co. will post 2.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BSX shares. TD Cowen increased their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Citigroup upped their price target on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. upped their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Mizuho upped their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays upped their price target on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $107.39.

About Boston Scientific

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.