434,938 Shares in Boston Scientific Co. (NYSE:BSX) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 434,938 shares of the medical equipment provider’s stock, valued at approximately $38,930,000.

Other hedge funds also recently modified their holdings of the company. Prudential PLC raised its stake in Boston Scientific by 31.8% during the 4th quarter. Prudential PLC now owns 49,395 shares of the medical equipment provider’s stock worth $4,412,000 after buying an additional 11,911 shares during the period. Pitcairn Co. raised its position in shares of Boston Scientific by 3.3% during the fourth quarter. Pitcairn Co. now owns 21,330 shares of the medical equipment provider’s stock worth $1,905,000 after purchasing an additional 682 shares during the period. Arete Wealth Advisors LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at approximately $308,000. World Investment Advisors increased its stake in Boston Scientific by 13.1% during the 4th quarter. World Investment Advisors now owns 13,215 shares of the medical equipment provider’s stock worth $1,180,000 after purchasing an additional 1,531 shares in the last quarter. Finally, Nicolet Advisory Services LLC acquired a new stake in Boston Scientific during the 4th quarter worth approximately $223,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Boston Scientific stock opened at $89.78 on Friday. Boston Scientific Co. has a 1-year low of $66.80 and a 1-year high of $107.17. The firm has a market cap of $132.78 billion, a P/E ratio of 71.82, a P/E/G ratio of 2.79 and a beta of 0.77. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average of $101.90 and a 200-day moving average of $93.55.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Sell-side analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

BSX has been the subject of a number of research reports. Citigroup increased their target price on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Argus set a $130.00 target price on Boston Scientific in a research note on Tuesday, February 18th. Royal Bank of Canada raised their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Truist Financial boosted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Raymond James lifted their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $108.91.

Insider Activity

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the sale, the executive vice president now directly owns 28,454 shares in the company, valued at $2,966,329.50. The trade was a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 6,528 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $104.97, for a total transaction of $685,244.16. Following the sale, the executive vice president now directly owns 26,449 shares of the company’s stock, valued at approximately $2,776,351.53. This represents a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,183 shares of company stock worth $13,948,476 over the last 90 days. 0.50% of the stock is currently owned by 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.