Mitsubishi UFJ Trust & Banking Corp Has $72.29 Million Stake in Boston Scientific Corporation $BSX

Mitsubishi UFJ Trust & Banking Corp lowered its position in Boston Scientific Corporation (NYSE:BSX) by 5.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 740,421 shares of the medical equipment provider’s stock after selling 43,237 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Boston Scientific were worth $72,287,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. UniSuper Management Pty Ltd lifted its stake in Boston Scientific by 18.6% in the 3rd quarter. UniSuper Management Pty Ltd now owns 1,079,342 shares of the medical equipment provider’s stock valued at $105,376,000 after purchasing an additional 169,181 shares during the last quarter. Jennison Associates LLC raised its stake in Boston Scientific by 133.5% in the third quarter. Jennison Associates LLC now owns 4,938,746 shares of the medical equipment provider’s stock valued at $482,170,000 after buying an additional 2,823,744 shares during the period. Gibbs Wealth Management acquired a new stake in shares of Boston Scientific in the third quarter valued at approximately $1,050,000. Westfuller Advisors LLC bought a new position in shares of Boston Scientific during the 3rd quarter worth approximately $43,000. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Boston Scientific by 1.1% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 66,686 shares of the medical equipment provider’s stock worth $6,511,000 after acquiring an additional 730 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $92.56 on Friday. Boston Scientific Corporation has a 12-month low of $85.98 and a 12-month high of $109.50. The company’s 50 day moving average price is $95.70 and its two-hundred day moving average price is $99.85. The firm has a market cap of $137.22 billion, a PE ratio of 49.50, a PEG ratio of 1.64 and a beta of 0.67. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.04. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.97 billion. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The firm’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 earnings per share. Equities research analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

BSX has been the subject of several research reports. Evercore ISI set a $112.00 price target on Boston Scientific in a report on Monday, January 5th. UBS Group restated a “buy” rating on shares of Boston Scientific in a research note on Wednesday, December 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Boston Scientific in a report on Wednesday. The Goldman Sachs Group restated a “buy” rating and set a $112.00 price objective on shares of Boston Scientific in a research report on Friday, January 9th. Finally, Leerink Partners upped their target price on Boston Scientific from $127.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.89.

Insider Buying and Selling at Boston Scientific

In related news, Director Ellen M. Zane sold 12,891 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $98.28, for a total value of $1,266,927.48. Following the completion of the transaction, the director owned 24,134 shares of the company’s stock, valued at $2,371,889.52. The trade was a 34.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the sale, the executive vice president owned 23,600 shares in the company, valued at $2,396,580. The trade was a 42.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 93,095 shares of company stock valued at $9,305,450 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.