Boston Scientific Co. (NYSE:BSX) Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas trimmed its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 15.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 596,300 shares of the medical equipment provider's stock after selling 110,900 shares during the quarter. Employees Retirement System of Texas' holdings in Boston Scientific were worth $53,262,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. HWG Holdings LP increased its position in Boston Scientific by 65.2% during the 4th quarter. HWG Holdings LP now owns 10,655 shares of the medical equipment provider's stock valued at $952,000 after buying an additional 4,207 shares in the last quarter. Polar Asset Management Partners Inc. increased its position in Boston Scientific by 69.0% during the 4th quarter. Polar Asset Management Partners Inc. now owns 481,717 shares of the medical equipment provider's stock valued at $43,027,000 after buying an additional 196,617 shares in the last quarter. Cypress Asset Management Inc. TX acquired a new position in Boston Scientific during the 4th quarter valued at about $281,000. Ameriflex Group Inc. purchased a new stake in Boston Scientific during the 4th quarter valued at about $31,000. Finally, Sunbeam Capital Management LLC purchased a new stake in Boston Scientific during the 4th quarter valued at about $276,000. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on BSX shares. Barclays boosted their price target on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Stifel Nicolaus boosted their price target on Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $115.00 target price on shares of Boston Scientific in a report on Wednesday. Wells Fargo & Company upped their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Finally, Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Twenty-two research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $114.87.

Insiders Place Their Bets

In other news, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the sale, the executive vice president now directly owns 18,705 shares of the company's stock, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares of the company's stock, valued at $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,155 shares of company stock valued at $19,556,047 over the last quarter. 0.50% of the stock is owned by insiders.

Boston Scientific Price Performance

Shares of NYSE:BSX traded down $0.02 during midday trading on Thursday, hitting $104.49. The company had a trading volume of 7,128,860 shares, compared to its average volume of 6,405,790. Boston Scientific Co. has a twelve month low of $71.88 and a twelve month high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The stock has a market cap of $154.58 billion, a price-to-earnings ratio of 83.59, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The business's 50-day simple moving average is $100.22 and its 200-day simple moving average is $97.66.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm's quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. On average, research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.