Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in Boston Scientific Co. (NYSE:BSX)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Boston Scientific Co. (NYSE:BSX) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,494 shares of the medical equipment provider’s stock after acquiring an additional 3,433 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Boston Scientific were worth $14,455,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S increased its position in Boston Scientific by 225.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock valued at $7,237,000 after purchasing an additional 73,219 shares during the period. BDF Gestion purchased a new position in Boston Scientific during the 2nd quarter valued at about $3,570,000. Tlwm purchased a new position in Boston Scientific during the 1st quarter valued at about $927,000. LRI Investments LLC purchased a new position in Boston Scientific during the 1st quarter valued at about $139,000. Finally, Cetera Advisor Networks LLC boosted its holdings in shares of Boston Scientific by 11.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after buying an additional 21,252 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 316,253 shares of company stock valued at $26,714,298. 0.50% of the stock is currently owned by insiders.

Boston Scientific Trading Up 1.9 %

Shares of BSX opened at $88.07 on Friday. Boston Scientific Co. has a 52-week low of $49.15 and a 52-week high of $88.71. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average is $82.49 and its two-hundred day moving average is $77.09. The stock has a market cap of $129.21 billion, a PE ratio of 74.01, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 EPS. Research analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BSX has been the topic of a number of recent analyst reports. Truist Financial raised their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 14th. Barclays raised their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Citigroup lifted their target price on shares of Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Finally, Evercore ISI lifted their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $89.10.

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.