Sumitomo Mitsui Trust Group Inc. Boosts Stake in Boston Scientific Co. (NYSE:BSX)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,466,366 shares of the medical equipment provider’s stock after purchasing an additional 9,625 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Boston Scientific worth $309,616,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atomi Financial Group Inc. raised its stake in shares of Boston Scientific by 13.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 8,266 shares of the medical equipment provider’s stock valued at $693,000 after acquiring an additional 997 shares during the period. Brookstone Capital Management increased its holdings in Boston Scientific by 22.3% in the 3rd quarter. Brookstone Capital Management now owns 85,553 shares of the medical equipment provider’s stock valued at $7,169,000 after purchasing an additional 15,608 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Boston Scientific in the third quarter valued at approximately $326,000. Daymark Wealth Partners LLC acquired a new position in Boston Scientific during the third quarter worth $281,000. Finally, Wedmont Private Capital boosted its position in shares of Boston Scientific by 9.2% during the third quarter. Wedmont Private Capital now owns 18,730 shares of the medical equipment provider’s stock worth $1,581,000 after buying an additional 1,574 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

Shares of BSX stock opened at $105.01 on Friday. The stock’s 50-day moving average is $94.30 and its two-hundred day moving average is $86.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific Co. has a 1 year low of $64.39 and a 1 year high of $107.17. The firm has a market cap of $154.76 billion, a price-to-earnings ratio of 86.78, a PEG ratio of 2.68 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total value of $633,916.74. Following the transaction, the executive vice president now directly owns 29,308 shares in the company, valued at approximately $2,660,580.24. The trade was a 19.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,302 shares of company stock worth $4,464,725 in the last 90 days. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BSX shares. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Friday, January 10th. TD Cowen increased their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Sanford C. Bernstein lifted their price objective 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. Mizuho increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Piper Sandler boosted their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and a consensus price target of $104.26.

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.