Sumitomo Mitsui Trust Group Inc. Raises Holdings in Boston Scientific Corporation (NYSE:BSX)

Sumitomo Mitsui Trust Group Inc. boosted its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,495,130 shares of the medical equipment provider's stock after buying an additional 28,764 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Boston Scientific worth $352,589,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BSX. Bank Pictet & Cie Europe AG boosted its holdings in shares of Boston Scientific by 40.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after buying an additional 21,173 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Boston Scientific by 18.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider's stock valued at $3,987,000 after buying an additional 6,264 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Boston Scientific by 13.0% in the 1st quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider's stock worth $504,000 after purchasing an additional 575 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Boston Scientific by 109.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider's stock worth $24,126,000 after purchasing an additional 141,398 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Boston Scientific by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider's stock worth $1,477,307,000 after purchasing an additional 832,386 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Performance

Shares of BSX stock traded up $2.25 during mid-day trading on Friday, reaching $106.83. 15,636,958 shares of the company's stock traded hands, compared to its average volume of 6,623,509. Boston Scientific Corporation has a 12 month low of $71.88 and a 12 month high of $107.17. The firm has a 50 day moving average price of $102.74 and a two-hundred day moving average price of $99.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The firm has a market capitalization of $158.05 billion, a PE ratio of 39.46, a price-to-earnings-growth ratio of 2.75 and a beta of 0.68.

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, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The business's revenue was up 20.9% on a year-over-year basis. On average, research analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BSX. Citigroup reissued a "buy" rating and issued a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Robert W. Baird boosted their price target on Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Truist Financial boosted their price target on Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Finally, Evercore ISI boosted their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Twenty-two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $116.09.

Insider Buying and Selling

In related news, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the sale, the chief executive officer now directly owns 1,535,706 shares of the company's stock, valued at $157,379,150.88. This represents a 9.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 411,970 shares of company stock valued at $42,406,693 in the last ninety days. 0.50% of the stock is owned by company 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.