Boston Scientific Co. (NYSE:BSX) Shares Sold by NJ State Employees Deferred Compensation Plan

NJ State Employees Deferred Compensation Plan decreased its position in shares of Boston Scientific Co. (NYSE:BSX) by 14.5% in the fourth quarter, HoldingsChannel reports. The firm owned 47,000 shares of the medical equipment provider’s stock after selling 8,000 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in Boston Scientific were worth $4,198,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of BSX. TFC Financial Management Inc. lifted its holdings in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares during the period. Dunhill Financial LLC raised its position in Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares in the last quarter. Global Wealth Strategies & Associates raised its position in Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. West Oak Capital LLC purchased a new position in Boston Scientific during the fourth quarter valued at approximately $29,000. Finally, Capital Performance Advisors LLP purchased a new position in Boston Scientific during the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Canaccord Genuity Group lifted their price target on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Morgan Stanley lifted their price target on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Piper Sandler lifted their price target on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Argus set a $130.00 price objective on Boston Scientific in a research report on Tuesday, February 18th. Finally, TD Cowen boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific presently has a consensus rating of “Buy” and a consensus price target of $108.91.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $104.82 on Tuesday. 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 business’s 50 day moving average price is $99.57 and its 200-day moving average price is $90.61. The firm has a market capitalization of $154.69 billion, a PE ratio of 83.86, a P/E/G ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a 1 year low of $65.52 and a 1 year high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, equities research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 6,528 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16. Following the transaction, the executive vice president now owns 26,449 shares of the company’s stock, valued at approximately $2,776,351.53. The trade was a 19.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. This trade represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,322 shares of company stock valued at $14,321,068. Insiders own 0.50% 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 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.