State of New Jersey Common Pension Fund D Sells 43,505 Shares of Boston Scientific Corporation $BSX

Key Points

• The State of New Jersey Common Pension Fund D sold 43,505 shares of Boston Scientific during the first quarter, reducing its holdings by 8.1%, with total shares now at 495,531 valued at approximately $49.99 million.
• Recently, multiple hedge funds increased their stakes in Boston Scientific, with ownership by institutional investors now at 89.07% of the company's stock.
• Boston Scientific reported a 22.8% increase in revenue year-over-year for the last quarter, beating earnings estimates with $0.75 per share compared to the expected $0.72.

State of New Jersey Common Pension Fund D decreased its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 495,531 shares of the medical equipment provider's stock after selling 43,505 shares during the period. State of New Jersey Common Pension Fund D's holdings in Boston Scientific were worth $49,989,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BSX. Vanguard Group Inc. lifted its stake in Boston Scientific by 1.3% in the first quarter. Vanguard Group Inc. now owns 134,588,729 shares of the medical equipment provider's stock valued at $13,577,311,000 after purchasing an additional 1,697,945 shares during the last quarter. Capital World Investors lifted its stake in Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Boston Scientific by 2.5% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock valued at $1,992,994,000 after purchasing an additional 554,388 shares during the last quarter. Invesco Ltd. lifted its stake in Boston Scientific by 5.3% in the first quarter. Invesco Ltd. now owns 16,624,940 shares of the medical equipment provider's stock valued at $1,677,124,000 after purchasing an additional 834,274 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Boston Scientific by 18.0% in the fourth quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider's stock valued at $1,303,681,000 after purchasing an additional 2,221,790 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BSX. Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Jefferies Financial Group reiterated a "hold" rating on shares of Boston Scientific in a research note on Monday, July 21st. Truist Financial lifted their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Evercore ISI lifted their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, UBS Group lifted their price objective on shares of Boston Scientific from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $117.50.

Boston Scientific Price Performance

Shares of Boston Scientific stock traded up $0.5940 during trading on Tuesday, hitting $103.6440. The stock had a trading volume of 4,617,923 shares, compared to its average volume of 7,573,114. The firm has a market cap of $153.57 billion, a price-to-earnings ratio of 61.69, a P/E/G ratio of 2.48 and a beta of 0.66. Boston Scientific Corporation has a 12 month low of $78.08 and a 12 month high of $108.94. The business's 50-day moving average is $103.62 and its 200 day moving average is $102.09. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The firm had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The business's quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Boston Scientific has set its Q3 2025 guidance at 0.700-0.720 EPS. As a group, sell-side analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the completion of the sale, the executive vice president directly owned 23,600 shares in the company, valued at $2,469,268. This represents a 42.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the sale, the chief executive officer owned 1,476,882 shares of the company's stock, valued at approximately $153,137,894.58. The trade was a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 345,029 shares of company stock worth $35,976,603 in the last three months. 0.50% of the stock is owned by insiders.

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.