Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Position in Boston Scientific Co. (NYSE:BSX)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 9.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,335,854 shares of the medical equipment provider’s stock after purchasing an additional 207,907 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.16% of Boston Scientific worth $211,839,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of Boston Scientific during the fourth quarter valued at $190,780,000. Vanguard Group Inc. boosted its holdings in shares of Boston Scientific by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after acquiring an additional 1,600,062 shares during the last quarter. State Street Corp grew its stake in shares of Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after acquiring an additional 1,389,172 shares during the period. Fisher Funds Management LTD bought a new stake in shares of Boston Scientific in the fourth quarter worth approximately $94,710,000. Finally, Fisher Asset Management LLC raised its holdings in shares of Boston Scientific by 21.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider’s stock valued at $518,138,000 after purchasing an additional 1,028,977 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This represents a 10.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock valued at $14,319,269 in the last 90 days. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research report on Monday, March 3rd. Stifel Nicolaus raised their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Truist Financial upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

Boston Scientific Stock Down 0.7 %

Shares of BSX opened at $102.31 on Thursday. The business’s 50 day moving average is $102.10 and its 200 day moving average is $92.87. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17. The company has a market capitalization of $151.32 billion, a PE ratio of 81.85, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

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.