Boston Scientific Corporation (NYSE:BSX) Stock Holdings Lifted by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Boston Scientific Corporation by 12.7%, owning over 2.6 million shares worth approximately $265 million.
• Boston Scientific reported a quarterly earnings per share (EPS) of $0.75, surpassing analysts' expectations of $0.72, with significant year-over-year revenue growth of 22.8%.
• Recent analyst ratings for Boston Scientific include multiple upgrades, with a consensus rating of "Buy" and a target price averaging around $117.50.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 12.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,631,512 shares of the medical equipment provider's stock after buying an additional 295,658 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Boston Scientific worth $265,467,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BSX. Colonial Trust Co SC raised its stake in Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 260 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in Boston Scientific during the 4th quarter worth $25,000. Sunbeam Capital Management LLC acquired a new position in shares of Boston Scientific during the fourth quarter worth about $26,000. Y.D. More Investments Ltd acquired a new position in shares of Boston Scientific during the first quarter worth about $27,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Boston Scientific during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insiders Place Their Bets

In related news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $104.63, for a total value of $5,231,500.00. Following the sale, the executive vice president owned 178,342 shares of the company's stock, valued at $18,659,923.46. This trade represents a 21.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 4,000 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $106.03, for a total transaction of $424,120.00. Following the transaction, the director directly owned 18,479 shares in the company, valued at approximately $1,959,328.37. The trade was a 17.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 345,029 shares of company stock worth $35,976,603. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Oppenheimer boosted their price objective on shares of Boston Scientific from $110.00 to $118.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Barclays boosted their price objective on shares of Boston Scientific from $125.00 to $133.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Citigroup reaffirmed a "buy" rating and set a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Finally, Erste Group Bank raised shares of Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $117.50.

Boston Scientific Stock Up 0.3%

NYSE BSX traded up $0.26 during trading hours on Friday, reaching $103.22. 5,076,176 shares of the company traded hands, compared to its average volume of 7,613,214. Boston Scientific Corporation has a 12 month low of $75.00 and a 12 month high of $108.94. The company has a current ratio of 1.37, a quick ratio of 0.88 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $152.95 billion, a PE ratio of 61.44, a PEG ratio of 2.48 and a beta of 0.66. The company has a 50 day moving average of $103.54 and a two-hundred day moving average of $102.05.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the firm posted $0.62 EPS. The company's revenue for the quarter was up 22.8% on a year-over-year basis. As a group, equities analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Boston Scientific Company Profile

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.