Tokio Marine Asset Management Co. Ltd. Purchases 2,930 Shares of Boston Scientific Corporation $BSX

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its stake in Boston Scientific by 6.6%, owning 47,163 shares valued at approximately $4.76 million as of the end of the latest quarter.
• Boston Scientific reported a 22.8% increase in revenue year-over-year for the latest quarter, reaching $5.06 billion and exceeding analyst estimates.
• Predominantly, 89.07% of Boston Scientific stock is owned by institutional investors, indicating strong support and confidence in the company among larger financial entities.

Tokio Marine Asset Management Co. Ltd. raised its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 6.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,163 shares of the medical equipment provider's stock after purchasing an additional 2,930 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in Boston Scientific were worth $4,758,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Colonial Trust Co SC increased its position in shares of Boston Scientific by 1,625.0% during the fourth 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 bought a new position in Boston Scientific in the fourth quarter valued at $25,000. Sunbeam Capital Management LLC bought a new position in Boston Scientific in the fourth quarter valued at $26,000. Y.D. More Investments Ltd bought a new position in Boston Scientific in the first quarter valued at $27,000. Finally, Ameriflex Group Inc. bought a new position in Boston Scientific in the fourth quarter valued at $31,000. Institutional investors own 89.07% of the company's stock.

Boston Scientific Stock Performance

Shares of NYSE BSX traded down $0.11 during mid-day trading on Monday, reaching $103.06. 8,516,909 shares of the company were exchanged, compared to its average volume of 7,592,058. Boston Scientific Corporation has a twelve month low of $77.71 and a twelve month high of $108.94. The stock has a market capitalization of $152.71 billion, a P/E ratio of 61.35, a P/E/G ratio of 2.48 and a beta of 0.66. The company's 50-day simple moving average is $103.56 and its 200-day simple moving average is $102.09. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 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 business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the firm earned $0.62 earnings per share. Boston Scientific's revenue for the quarter was up 22.8% compared to the same quarter last year. As a group, research analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

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 transaction of $17,051,094.67. Following the transaction, the chief executive officer directly owned 1,476,882 shares of the company's stock, valued at approximately $153,137,894.58. This trade represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the transaction, the executive vice president directly owned 23,600 shares in the company, valued at approximately $2,469,268. This represents a 42.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 345,029 shares of company stock valued at $35,976,603 in the last quarter. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $115.00 target price on shares of Boston Scientific in a research report on Wednesday, May 28th. Oppenheimer raised their target price 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. Truist Financial raised their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, UBS Group increased their price target on shares of Boston Scientific from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $117.50.

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.