Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in Boston Scientific Co. (NYSE:BSX)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Boston Scientific Co. (NYSE:BSX) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,335,854 shares of the medical equipment provider’s stock after purchasing an additional 207,907 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Boston Scientific were worth $211,839,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BSX. Parnassus Investments LLC boosted its stake in Boston Scientific by 0.7% during the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock worth $1,327,000 after buying an additional 97 shares during the period. PDS Planning Inc boosted its stake in shares of Boston Scientific by 1.5% during the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after purchasing an additional 113 shares during the period. Adero Partners LLC grew its holdings in Boston Scientific by 3.3% during the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock valued at $334,000 after purchasing an additional 120 shares during the last quarter. Grove Bank & Trust raised its position in Boston Scientific by 4.4% in the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after purchasing an additional 122 shares during the period. Finally, PFG Investments LLC lifted its stake in Boston Scientific by 1.6% in the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock worth $725,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX opened at $102.31 on Thursday. The company has a 50 day moving average of $102.10 and a two-hundred day moving average of $92.87. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17. The company has a market cap of $151.32 billion, a price-to-earnings ratio of 81.85, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BSX shares. Raymond James increased their price target on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Canaccord Genuity Group lifted their target price on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. TD Cowen upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, Wells Fargo & Company upped their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $108.91.

Insider Activity

In other news, CFO Daniel J. Brennan sold 15,087 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the sale, the chief financial officer now directly owns 241,451 shares of the company’s stock, valued at $25,369,256.57. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the transaction, the executive vice president now owns 5,502 shares of the company’s stock, valued at $560,103.60. This trade represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock worth $14,319,269 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

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.