Employees Retirement System of Texas Purchases 32,000 Shares of Boston Scientific Co. (NYSE:BSX)

Employees Retirement System of Texas increased its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 747,000 shares of the medical equipment provider’s stock after buying an additional 32,000 shares during the quarter. Employees Retirement System of Texas owned 0.05% of Boston Scientific worth $40,405,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BSX. Bank Julius Baer & Co. Ltd Zurich increased its holdings in Boston Scientific by 88,436.6% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 270,919,289 shares of the medical equipment provider’s stock valued at $14,654,024,000 after purchasing an additional 270,613,292 shares during the period. Geode Capital Management LLC boosted its holdings in Boston Scientific by 1.9% in the first quarter. Geode Capital Management LLC now owns 25,329,129 shares of the medical equipment provider’s stock valued at $1,263,857,000 after acquiring an additional 473,888 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Boston Scientific by 7.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 23,393,853 shares of the medical equipment provider’s stock worth $1,082,436,000 after purchasing an additional 1,659,431 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of Boston Scientific by 112,306.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 18,661,660 shares of the medical equipment provider’s stock valued at $863,475,000 after purchasing an additional 18,645,058 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Boston Scientific by 8.7% during the second quarter. Bank of New York Mellon Corp now owns 17,156,052 shares of the medical equipment provider’s stock worth $927,971,000 after buying an additional 1,374,203 shares during the period. Institutional investors and hedge funds own 89.11% of the company’s stock.

Boston Scientific Stock Performance

Boston Scientific stock traded up $0.24 during mid-day trading on Tuesday, reaching $54.70. The company’s stock had a trading volume of 1,152,287 shares, compared to its average volume of 8,113,013. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.90 and a current ratio of 1.42. Boston Scientific Co. has a 12-month low of $42.73 and a 12-month high of $55.38. The company has a market capitalization of $80.13 billion, a P/E ratio of 66.41, a PEG ratio of 2.14 and a beta of 0.77. The firm’s fifty day moving average price is $52.11 and its two-hundred day moving average price is $52.33.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Boston Scientific had a return on equity of 15.46% and a net margin of 8.93%. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the prior year, the business posted $0.43 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. Sell-side analysts predict that Boston Scientific Co. will post 2.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BSX. Royal Bank of Canada lifted their price objective on Boston Scientific from $58.00 to $61.00 and gave the stock an “outperform” rating in a research report on Thursday, September 21st. Mizuho raised their price target on shares of Boston Scientific from $56.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, September 21st. TheStreet raised Boston Scientific from a “c+” rating to a “b-” rating in a research report on Monday, November 6th. Robert W. Baird lifted their price target on shares of Boston Scientific from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, September 21st. Finally, Needham & Company LLC dropped their price objective on shares of Boston Scientific from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average price target of $60.55.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 11,671 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $53.95, for a total value of $629,650.45. Following the sale, the executive vice president now owns 57,058 shares of the company’s stock, valued at approximately $3,078,279.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Vance R. Brown sold 15,750 shares of Boston Scientific stock in a transaction on Friday, August 25th. The shares were sold at an average price of $50.52, for a total transaction of $795,690.00. Following the completion of the sale, the senior vice president now directly owns 28,578 shares of the company’s stock, valued at approximately $1,443,760.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 11,671 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $53.95, for a total value of $629,650.45. Following the completion of the transaction, the executive vice president now directly owns 57,058 shares in the company, valued at approximately $3,078,279.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 408,996 shares of company stock worth $21,589,497. Corporate insiders own 0.71% of the company’s stock.

Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.