Mitsubishi UFJ Trust & Banking Corp Buys 11,214 Shares of Boston Scientific Co. (NYSE:BSX)

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 843,293 shares of the medical equipment provider’s stock after acquiring an additional 11,214 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Boston Scientific were worth $75,323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nwam LLC bought a new position in Boston Scientific in the 3rd quarter valued at $294,000. Kingsview Wealth Management LLC boosted its holdings in Boston Scientific by 5.0% in the third quarter. Kingsview Wealth Management LLC now owns 5,970 shares of the medical equipment provider’s stock valued at $500,000 after acquiring an additional 282 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Boston Scientific in the third quarter valued at about $357,000. Summit Trail Advisors LLC increased its position in Boston Scientific by 14.6% in the third quarter. Summit Trail Advisors LLC now owns 12,342 shares of the medical equipment provider’s stock worth $1,034,000 after purchasing an additional 1,575 shares during the period. Finally, Boston Family Office LLC lifted its position in Boston Scientific by 3.0% during the 3rd quarter. Boston Family Office LLC now owns 8,694 shares of the medical equipment provider’s stock valued at $729,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BSX shares. Morgan Stanley lifted their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Argus set a $130.00 price target on Boston Scientific in a research note on Tuesday, February 18th. Citigroup lifted their price objective on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, 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. 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’s stock. According to MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $108.91.

Boston Scientific Price Performance

NYSE BSX opened at $103.09 on Wednesday. The firm’s 50 day moving average is $101.99 and its 200-day moving average is $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 company has a market capitalization of $152.48 billion, a PE ratio of 82.47, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

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

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.