Sumitomo Mitsui Trust Group Inc. Acquires 30,636 Shares of Boston Scientific Co. (NYSE:BSX)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,456,741 shares of the medical equipment provider’s stock after purchasing an additional 30,636 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Boston Scientific were worth $289,675,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BSX. Empowered Funds LLC increased its position in shares of Boston Scientific by 56.6% during the first quarter. Empowered Funds LLC now owns 24,858 shares of the medical equipment provider’s stock worth $1,703,000 after acquiring an additional 8,982 shares during the period. Atomi Financial Group Inc. lifted its holdings in shares of Boston Scientific by 23.9% in the 1st quarter. Atomi Financial Group Inc. now owns 6,030 shares of the medical equipment provider’s stock worth $413,000 after buying an additional 1,163 shares during the period. Concurrent Investment Advisors LLC grew its position in shares of Boston Scientific by 14.7% during the 1st quarter. Concurrent Investment Advisors LLC now owns 8,301 shares of the medical equipment provider’s stock worth $569,000 after buying an additional 1,066 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Boston Scientific by 7.9% in the first quarter. Meeder Asset Management Inc. now owns 4,102 shares of the medical equipment provider’s stock valued at $281,000 after acquiring an additional 299 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Boston Scientific by 8.2% in the first quarter. QRG Capital Management Inc. now owns 93,198 shares of the medical equipment provider’s stock worth $6,383,000 after acquiring an additional 7,065 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock worth $26,196,718 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 0.3 %

Shares of BSX stock opened at $88.48 on Tuesday. Boston Scientific Co. has a twelve month low of $52.99 and a twelve month high of $88.94. The stock has a market cap of $130.40 billion, a P/E ratio of 73.12, a P/E/G ratio of 2.60 and a beta of 0.79. The stock has a 50 day moving average of $84.74 and a 200 day moving average of $79.15. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 EPS. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BSX. Raymond James lifted their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Evercore ISI upped their price objective on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Truist Financial lifted their target price on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Sanford C. Bernstein raised their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group lifted their price objective on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average target price of $93.39.

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.