Teacher Retirement System of Texas Buys 213,531 Shares of Boston Scientific Co. (NYSE:BSX)

Teacher Retirement System of Texas boosted its stake in Boston Scientific Co. (NYSE:BSX) by 44.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 693,941 shares of the medical equipment provider’s stock after acquiring an additional 213,531 shares during the period. Teacher Retirement System of Texas’ holdings in Boston Scientific were worth $61,983,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. TFC Financial Management Inc. boosted its stake in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. Dunhill Financial LLC boosted 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 during the last quarter. Global Wealth Strategies & Associates boosted its holdings in shares of Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares in the last quarter. West Oak Capital LLC bought a new position in shares of Boston Scientific during the 4th quarter worth approximately $29,000. Finally, Valley National Advisers Inc. boosted its holdings in shares of Boston Scientific by 262.4% during the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 286 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BSX has been the topic of several research analyst reports. Citigroup increased their target price on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Stifel Nicolaus upped their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. UBS Group raised their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Piper Sandler boosted their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Stock Performance

NYSE:BSX opened at $100.77 on Thursday. The business has a fifty day simple moving average of $101.45 and a two-hundred day simple moving average of $92.15. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17. The company has a market capitalization of $148.72 billion, a P/E ratio of 80.62, a P/E/G ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, the executive vice president now owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 6,528 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $104.97, for a total transaction of $685,244.16. Following the transaction, the executive vice president now directly owns 26,449 shares of the company’s stock, valued at approximately $2,776,351.53. This represents a 19.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,302 shares of company stock worth $14,319,269. Corporate insiders own 0.50% of the company’s stock.

About Boston Scientific

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.