Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Sumitomo Mitsui Trust Group Inc. lifted its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,456,741 shares of the medical equipment provider's stock after acquiring an additional 30,636 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Boston Scientific worth $289,675,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CRA Financial Services LLC increased its holdings in Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider's stock valued at $238,000 after buying an additional 117 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in Boston Scientific by 9.7% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider's stock worth $115,000 after buying an additional 119 shares during the period. Ashton Thomas Securities LLC lifted its position in shares of Boston Scientific by 1.3% in the 3rd quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider's stock worth $835,000 after purchasing an additional 129 shares during the period. CVA Family Office LLC lifted its position in shares of Boston Scientific by 7.4% in the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider's stock worth $147,000 after purchasing an additional 131 shares during the period. Finally, Jacobsen Capital Management lifted its position in shares of Boston Scientific by 4.9% in the 3rd quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider's stock worth $236,000 after purchasing an additional 133 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Up 0.2 %

BSX traded up $0.20 during trading on Tuesday, hitting $88.68. The company had a trading volume of 2,809,413 shares, compared to its average volume of 6,067,784. The firm's 50-day moving average price is $84.74 and its 200 day moving average price is $79.15. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a one year low of $52.99 and a one year high of $88.94. The company has a market capitalization of $130.70 billion, a PE ratio of 73.12, a PEG ratio of 2.60 and a beta of 0.79.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the prior year, the firm posted $0.50 EPS. The firm's quarterly revenue was up 19.3% on a year-over-year basis. As a group, equities analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Michael F. Mahoney sold 162,777 shares of the business's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares of the company's stock, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the sale, the executive vice president now directly owns 160,467 shares of the company's stock, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 309,270 shares of company stock worth $26,196,718. Insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America lifted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Truist Financial lifted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Barclays boosted their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Citigroup upped their price objective on shares of Boston Scientific from $92.00 to $98.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada upped their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $93.39.

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.