Mitsubishi UFJ Trust & Banking Corp Boosts Stake in Boston Scientific Co. (NYSE:BSX)

Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 843,293 shares of the medical equipment provider’s stock after buying an additional 11,214 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Boston Scientific worth $75,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of BSX. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Boston Scientific by 20.1% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 96,555 shares of the medical equipment provider’s stock valued at $8,624,000 after buying an additional 16,184 shares during the last quarter. Zions Bancorporation N.A. grew its holdings in Boston Scientific by 9.5% in the fourth quarter. Zions Bancorporation N.A. now owns 3,590 shares of the medical equipment provider’s stock valued at $321,000 after purchasing an additional 310 shares during the period. FineMark National Bank & Trust acquired a new stake in Boston Scientific during the fourth quarter worth about $206,000. Ashton Thomas Securities LLC lifted its position in Boston Scientific by 3.5% during the fourth quarter. Ashton Thomas Securities LLC now owns 10,316 shares of the medical equipment provider’s stock valued at $921,000 after buying an additional 348 shares in the last quarter. Finally, TD Asset Management Inc. raised its holdings in shares of Boston Scientific by 2.1% during the 4th quarter. TD Asset Management Inc. now owns 2,289,791 shares of the medical equipment provider’s stock valued at $204,524,000 after buying an additional 46,255 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Up 0.4 %

Shares of Boston Scientific stock opened at $103.09 on Wednesday. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17. The stock has a 50 day moving average price of $101.99 and a two-hundred day moving average price of $92.80. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $152.48 billion, a P/E ratio of 82.47, a PEG ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last issued its quarterly 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 return on equity of 17.80% and a net margin of 11.07%. Equities analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BSX. UBS Group increased their price target on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays raised their price target on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Canaccord Genuity Group lifted their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Argus set a $130.00 price objective on shares of Boston Scientific in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company increased their price target on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $108.91.

Insider Buying and Selling

In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the transaction, the executive vice president now owns 28,454 shares of the company’s stock, valued at $2,966,329.50. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the sale, the executive vice president now owns 5,502 shares in the company, valued at $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 have sold a total of 137,302 shares of company stock valued at $14,319,269 over the last three months. 0.50% of the stock is owned by corporate insiders.

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.