Meiji Yasuda Life Insurance Co Cuts Stake in Boston Scientific Co. (NYSE:BSX)

Meiji Yasuda Life Insurance Co lowered its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 183,943 shares of the medical equipment provider's stock after selling 14,429 shares during the quarter. Boston Scientific makes up approximately 0.3% of Meiji Yasuda Life Insurance Co's investment portfolio, making the stock its 26th largest position. Meiji Yasuda Life Insurance Co's holdings in Boston Scientific were worth $16,430,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wahed Invest LLC grew its position in shares of Boston Scientific by 6.3% in the 4th quarter. Wahed Invest LLC now owns 37,921 shares of the medical equipment provider's stock valued at $3,387,000 after buying an additional 2,242 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Boston Scientific during the fourth quarter worth $43,000. Keel Point LLC grew its holdings in Boston Scientific by 12.0% in the fourth quarter. Keel Point LLC now owns 4,276 shares of the medical equipment provider's stock worth $382,000 after purchasing an additional 457 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in Boston Scientific by 7.4% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,832,594 shares of the medical equipment provider's stock valued at $163,687,000 after purchasing an additional 126,837 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in shares of Boston Scientific during the fourth quarter valued at about $26,702,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on BSX shares. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 target price for the company in a research report on Friday, January 10th. Barclays boosted their price objective on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Needham & Company LLC increased their target price on Boston Scientific from $113.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Piper Sandler boosted their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada raised their price objective on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Twenty-three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $114.52.

Insiders Place Their Bets

In related news, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the sale, the senior vice president now owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This represents a 11.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 17,314 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the sale, the executive vice president now directly owns 22,235 shares in the company, valued at approximately $2,269,304.10. The trade was a 43.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 307,025 shares of company stock worth $31,742,060 in the last quarter. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Performance

Boston Scientific stock traded up $0.85 during midday trading on Wednesday, reaching $104.97. The stock had a trading volume of 1,634,518 shares, compared to its average volume of 6,322,645. 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 firm has a market capitalization of $155.26 billion, a PE ratio of 83.96, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 12 month low of $71.88 and a 12 month high of $107.17. The firm's 50-day moving average price is $98.71 and its 200 day moving average price is $95.66.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Boston Scientific's revenue for the quarter was up 20.9% on a year-over-year basis. During the same period last year, the firm earned $0.56 EPS. As a group, research analysts predict 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.