Sumitomo Mitsui Trust Group Inc. Buys 28,764 Shares of Boston Scientific Corporation (NYSE:BSX)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 0.8% during the first quarter, Holdings Channel.com reports. The firm owned 3,495,130 shares of the medical equipment provider’s stock after purchasing an additional 28,764 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Boston Scientific were worth $352,589,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BSX. Norges Bank bought a new stake in Boston Scientific during the fourth quarter valued at about $1,762,522,000. Capital World Investors raised its stake in Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock valued at $2,492,041,000 after buying an additional 6,216,199 shares during the last quarter. Wellington Management Group LLP raised its stake in Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after buying an additional 3,344,571 shares during the last quarter. GAMMA Investing LLC raised its stake in Boston Scientific by 11,720.3% in the first quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider’s stock valued at $260,057,000 after buying an additional 2,556,078 shares during the last quarter. Finally, Axiom Investors LLC DE raised its stake in Boston Scientific by 208.2% in the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock valued at $335,167,000 after buying an additional 2,535,007 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 2.1%

Boston Scientific stock opened at $106.83 on Friday. The firm has a market cap of $158.05 billion, a price-to-earnings ratio of 77.98, a price-to-earnings-growth ratio of 2.70 and a beta of 0.68. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $107.17. The business’s 50-day moving average price is $102.74 and its 200 day moving average price is $99.55. 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) last posted its earnings results 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. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period last year, the company earned $0.56 earnings per share. Boston Scientific’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Royal Bank Of Canada increased their price target on Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of Boston Scientific in a research note on Wednesday, May 28th. Barclays increased their price target on Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Evercore ISI increased their price target on Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Wall Street Zen upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Twenty-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $116.09.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the sale, the executive vice president now directly owns 18,705 shares of the company’s stock, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now directly 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. Over the last three months, insiders have sold 411,970 shares of company stock valued at $42,406,693. Company insiders own 0.50% of the company’s stock.

Boston Scientific 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.