Employees Retirement System of Texas Has $53.26 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

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

A number of other large investors have also made changes to their positions in the company. Parnassus Investments LLC increased its holdings in shares of Boston Scientific by 0.7% during the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock worth $1,327,000 after buying an additional 97 shares in the last quarter. PDS Planning Inc increased its holdings in Boston Scientific by 1.5% during the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock valued at $668,000 after purchasing an additional 113 shares in the last quarter. Adero Partners LLC raised its position in Boston Scientific by 3.3% in the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock valued at $334,000 after purchasing an additional 120 shares during the last quarter. Grove Bank & Trust boosted its stake in Boston Scientific by 4.4% in the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider's stock worth $261,000 after purchasing an additional 122 shares in the last quarter. Finally, PFG Investments LLC boosted its stake in Boston Scientific by 1.6% in the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider's stock worth $725,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Buying and Selling

In other news, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the sale, the executive vice president now directly owns 28,454 shares in the company, valued at $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 1,201 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the transaction, the executive vice president now owns 25,443 shares of the company's stock, valued at $2,704,845.33. The trade was a 4.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,183 shares of company stock worth $13,948,476 over the last ninety days. Company insiders own 0.50% of the company's stock.

Boston Scientific Trading Up 1.1 %

NYSE:BSX traded up $1.02 on Friday, reaching $93.66. The company's stock had a trading volume of 8,303,541 shares, compared to its average volume of 6,351,456. Boston Scientific Co. has a 1-year low of $66.80 and a 1-year high of $107.17. The business's 50-day moving average price is $100.54 and its two-hundred day moving average price is $94.02. The firm has a market cap of $138.53 billion, a PE ratio of 74.93, a PEG ratio of 2.79 and a beta of 0.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BSX has been the subject of a number of research analyst reports. Argus set a $130.00 price target on Boston Scientific in a report on Tuesday, February 18th. Truist Financial reduced their target price on shares of Boston Scientific from $120.00 to $113.00 and set a "buy" rating on the stock in a research report on Friday. UBS Group raised their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 7th. Piper Sandler upped their price objective on Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Boston Scientific in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has an average rating of "Moderate Buy" and a consensus price target of $109.04.

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.