New Mexico Educational Retirement Board Grows Stock Position in Boston Scientific Co. (NYSE:BSX)

New Mexico Educational Retirement Board grew its position in shares of Boston Scientific Co. (NYSE:BSX) by 10.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,862 shares of the medical equipment provider’s stock after buying an additional 8,100 shares during the period. New Mexico Educational Retirement Board’s holdings in Boston Scientific were worth $5,675,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Boston Scientific in the 4th quarter worth approximately $930,626,000. Putnam Investments LLC lifted its holdings in Boston Scientific by 110.5% during the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after purchasing an additional 6,859,280 shares in the last quarter. Capital World Investors boosted its stake in Boston Scientific by 236.1% in the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after purchasing an additional 6,617,360 shares during the period. American Century Companies Inc. grew its stake in Boston Scientific by 391.6% during the third quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock valued at $172,752,000 after acquiring an additional 2,606,253 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Boston Scientific by 5.9% during the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock valued at $2,221,641,000 after purchasing an additional 2,336,348 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BSX shares. Barclays lifted their price objective on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Mizuho increased their price objective on Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Robert W. Baird upped their target price on Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Boston Scientific in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.70.

Insiders Place Their Bets

In other news, EVP Arthur C. Butcher sold 14,011 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the sale, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the transaction, the executive vice president now owns 45,628 shares in the company, valued at $3,437,157.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Arthur C. Butcher sold 14,011 shares of Boston Scientific stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the transaction, the executive vice president now owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The disclosure for this sale can be found here. Insiders sold 81,627 shares of company stock valued at $5,937,353 in the last ninety days. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of Boston Scientific stock traded up $0.01 on Friday, hitting $77.01. 7,714,856 shares of the company were exchanged, compared to its average volume of 5,196,856. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $77.99. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $112.98 billion, a price-to-earnings ratio of 64.71, a price-to-earnings-growth ratio of 2.65 and a beta of 0.81. The company has a 50-day moving average price of $74.84 and a 200 day moving average price of $67.59.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

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.