Daiwa Securities Group Inc. Acquires 15,866 Shares of Boston Scientific Co. (NYSE:BSX)

Daiwa Securities Group Inc. lifted its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 8.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 197,333 shares of the medical equipment provider's stock after buying an additional 15,866 shares during the period. Daiwa Securities Group Inc.'s holdings in Boston Scientific were worth $16,537,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Triad Wealth Partners LLC acquired a new stake in Boston Scientific in the second quarter valued at $26,000. Values First Advisors Inc. acquired a new stake in Boston Scientific in the 3rd quarter valued at about $28,000. Andra AP fonden bought a new position in Boston Scientific during the second quarter worth about $29,000. Lynx Investment Advisory acquired a new position in Boston Scientific during the second quarter worth approximately $30,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Boston Scientific during the third quarter worth approximately $30,000. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barclays lifted their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Royal Bank of Canada raised their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. BTIG Research upped their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Morgan Stanley raised their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus upped their target price on Boston Scientific from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $93.39.

Insider Activity

In other news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares of the company's stock, valued at approximately $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 328,157 shares of company stock worth $27,894,270. Insiders own 0.50% of the company's stock.

Boston Scientific Price Performance

Shares of BSX stock traded down $0.75 on Monday, hitting $89.25. 10,227,334 shares of the company's stock were exchanged, compared to its average volume of 6,096,185. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The stock has a market cap of $131.53 billion, a P/E ratio of 73.76, a price-to-earnings-growth ratio of 2.65 and a beta of 0.79. Boston Scientific Co. has a 12 month low of $53.93 and a 12 month high of $91.93. The company has a 50 day moving average of $86.11 and a 200 day moving average of $80.32.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period in the previous year, the firm posted $0.50 EPS. The firm's revenue was up 19.3% on a year-over-year basis. On average, equities research analysts predict that Boston Scientific Co. will post 2.46 EPS for the current year.

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.