Nissay Asset Management Corp Japan ADV Trims Position in Boston Scientific Co. (NYSE:BSX)

Nissay Asset Management Corp Japan ADV cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 180,728 shares of the medical equipment provider’s stock after selling 2,385 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Boston Scientific were worth $16,385,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in BSX. Norges Bank purchased a new position in shares of Boston Scientific during the fourth quarter valued at approximately $1,762,522,000. Capital World Investors increased its stake in shares of Boston Scientific by 28.7% during 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 period. Wellington Management Group LLP increased its stake in shares of Boston Scientific by 10.2% during 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 period. Axiom Investors LLC DE increased its stake in shares of Boston Scientific by 208.2% during 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 period. Finally, Northern Trust Corp boosted its position in shares of Boston Scientific by 18.0% during the fourth quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider’s stock valued at $1,303,681,000 after purchasing an additional 2,221,790 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Down 0.1%

Boston Scientific stock opened at $102.81 on Thursday. The stock has a market cap of $152.10 billion, a PE ratio of 82.25, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a one year low of $71.88 and a one year high of $107.17. The stock has a fifty day moving average of $98.76 and a 200 day moving average of $96.28.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Boston Scientific’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 earnings per share. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BSX shares. Truist Financial lifted their price target on Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. BTIG Research restated a “buy” rating and set a $124.00 price target on shares of Boston Scientific in a research report on Wednesday, April 23rd. Barclays lifted their price target on Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Wells Fargo & Company lifted their price target on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Piper Sandler lifted their price target on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Twenty-three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $114.52.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 1,201 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the sale, the executive vice president now owns 25,443 shares in the company, valued at $2,704,845.33. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the sale, the chief executive officer now owns 1,535,706 shares of the company’s stock, valued at approximately $157,379,150.88. The trade was a 9.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 267,021 shares of company stock worth $27,534,636. 0.50% of the stock is owned by 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.