New Mexico Educational Retirement Board Boosts Stake in Boston Scientific Co. (NYSE:BSX)

New Mexico Educational Retirement Board boosted its position in shares of Boston Scientific Co. (NYSE:BSX) by 10.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new stake in Boston Scientific in the 4th quarter valued at $28,000. Northwest Investment Counselors LLC acquired a new stake in shares of Boston Scientific during the first quarter worth about $31,000. Sachetta LLC purchased a new position in shares of Boston Scientific during the fourth quarter worth about $32,000. Frazier Financial Advisors LLC acquired a new position in Boston Scientific in the 4th quarter valued at about $32,000. Finally, Jones Financial Companies Lllp raised its stake in Boston Scientific by 53.0% during the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In related news, Director Charles J. Dockendorff sold 3,946 shares of Boston Scientific stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Arthur C. Butcher sold 14,011 shares of Boston Scientific stock in a transaction 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 completion of the sale, the executive vice president now owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The disclosure for this sale can be found here. Insiders have sold 81,627 shares of company stock worth $5,937,353 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Price Performance

NYSE:BSX traded up $0.01 during mid-day trading on Friday, hitting $77.01. 7,714,856 shares of the company’s stock traded hands, 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 market cap of $112.98 billion, a PE ratio of 64.71, a price-to-earnings-growth ratio of 2.65 and a beta of 0.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The firm’s 50 day simple moving average is $74.84 and its 200 day simple moving average is $67.59.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. Sell-side analysts expect that Boston Scientific Co. will post 2.32 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on BSX shares. Needham & Company LLC reiterated a “buy” rating and issued a $82.00 target price on shares of Boston Scientific in a research note on Tuesday, June 18th. StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Monday, June 24th. Mizuho raised their target price on shares of Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Wells Fargo & Company boosted their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Evercore ISI raised their price objective on shares of Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.70.

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.