Dai ichi Life Insurance Company Ltd Has $31.73 Million Holdings in Boston Scientific Co. (NYSE:BSX)

Dai ichi Life Insurance Company Ltd increased its holdings in Boston Scientific Co. (NYSE:BSX) by 18.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 378,668 shares of the medical equipment provider’s stock after purchasing an additional 59,330 shares during the period. Boston Scientific makes up 0.8% of Dai ichi Life Insurance Company Ltd’s investment portfolio, making the stock its 23rd biggest holding. Dai ichi Life Insurance Company Ltd’s holdings in Boston Scientific were worth $31,732,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its holdings in Boston Scientific by 1.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,120,466 shares of the medical equipment provider’s stock worth $93,895,000 after purchasing an additional 20,330 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of Boston Scientific in the 3rd quarter worth approximately $49,000. Boston Family Office LLC lifted its position in Boston Scientific by 3.0% in the third quarter. Boston Family Office LLC now owns 8,694 shares of the medical equipment provider’s stock worth $729,000 after purchasing an additional 250 shares during the period. Fisher Asset Management LLC boosted its position in shares of Boston Scientific by 17.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,771,935 shares of the medical equipment provider’s stock valued at $399,888,000 after acquiring an additional 694,585 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Boston Scientific by 8.7% during the third quarter. Daiwa Securities Group Inc. now owns 197,333 shares of the medical equipment provider’s stock valued at $16,537,000 after purchasing an additional 15,866 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Trading Down 0.8 %

Shares of NYSE BSX opened at $89.25 on Tuesday. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.93. The company’s fifty day moving average is $86.11 and its 200-day moving average is $80.32. The stock has a market cap of $131.53 billion, a price-to-earnings ratio of 73.76, a P/E/G ratio of 2.65 and a beta of 0.79. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion for 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 firm’s revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. Equities research analysts predict that Boston Scientific Co. will post 2.46 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the sale, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 328,157 shares of company stock valued at $27,894,270 in the last 90 days. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

BSX has been the subject of several analyst reports. Wells Fargo & Company raised their target price on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Monday, November 18th. Stifel Nicolaus lifted their price target on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, BTIG Research lifted their price objective on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.