Sumitomo Mitsui DS Asset Management Company Ltd Has $19.63 Million Position in Boston Scientific Corporation (NYSE:BSX)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 3.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 194,569 shares of the medical equipment provider's stock after buying an additional 6,855 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Boston Scientific were worth $19,628,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Colonial Trust Co SC grew its position 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 during the last quarter. Investment Management Corp VA ADV acquired a new position in Boston Scientific in the fourth quarter worth $25,000. Sunbeam Capital Management LLC bought a new stake in shares of Boston Scientific during the fourth quarter worth $26,000. Ameriflex Group Inc. acquired a new stake in shares of Boston Scientific in the fourth quarter valued at $31,000. Finally, Fairway Wealth LLC bought a new position in shares of Boston Scientific in the fourth quarter valued at about $36,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Down 1.2%

Shares of NYSE:BSX traded down $1.21 during mid-day trading on Wednesday, reaching $103.57. 6,514,675 shares of the stock were exchanged, compared to its average volume of 6,654,998. The stock's 50 day simple moving average is $103.22 and its 200-day simple moving average is $99.84. Boston Scientific Corporation has a one year low of $71.88 and a one year high of $107.53. The company has a market cap of $153.23 billion, a P/E ratio of 75.60, a P/E/G ratio of 2.72 and a beta of 0.68. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The firm's revenue for the quarter was up 20.9% on a year-over-year basis. As a group, equities research analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insider Activity

In related news, CEO Michael F. Mahoney sold 164,443 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.69, for a total value of $17,051,094.67. Following the completion of the sale, the chief executive officer directly owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. This trade represents a 10.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the transaction, the executive vice president owned 22,235 shares of the company's stock, valued at $2,269,304.10. The trade was a 43.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 461,970 shares of company stock valued at $47,755,193. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Evercore ISI increased their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Robert W. Baird boosted their target price on Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Truist Financial raised their price target on Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, Morgan Stanley boosted their price objective on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Twenty-two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Boston Scientific presently has a consensus rating of "Buy" and an average price target of $116.09.

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.