Sumitomo Mitsui Trust Holdings Inc. Buys 25,146 Shares of Boston Scientific Co. (NYSE:BSX)

Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 0.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,735,034 shares of the medical equipment provider’s stock after acquiring an additional 25,146 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.25% of Boston Scientific worth $215,922,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at about $28,000. Sunbelt Securities Inc. purchased a new stake in Boston Scientific in the first quarter worth about $32,000. Motco grew its holdings in Boston Scientific by 136.3% in the third quarter. Motco now owns 645 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 372 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Boston Scientific by 58.0% during the fourth quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 215 shares during the last quarter. Finally, Coppell Advisory Solutions LLC purchased a new stake in shares of Boston Scientific during the second quarter valued at approximately $34,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Price Performance

BSX stock opened at $68.07 on Monday. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $69.21. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $66.99 and a 200 day moving average price of $59.42. The stock has a market cap of $99.87 billion, a PE ratio of 63.62, a P/E/G ratio of 2.38 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the previous year, the company earned $0.45 EPS. Equities research analysts anticipate that Boston Scientific Co. will post 2.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BSX. Oppenheimer increased their price objective on shares of Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a research report on Thursday, February 1st. Mizuho upgraded shares of Boston Scientific from a “neutral” rating to a “buy” rating and increased their price target for the stock from $65.00 to $80.00 in a research report on Thursday, February 1st. TD Cowen lifted their price target on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, Royal Bank of Canada lifted their price target on shares of Boston Scientific from $67.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $68.14.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares in the company, valued at approximately $2,690,551.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. Insiders sold a total of 50,979 shares of company stock valued at $3,418,529 in the last three months. Company insiders own 0.50% of the company’s stock.

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.