Resona Asset Management Co. Ltd. Decreases Stake in Boston Scientific Corporation $BSX

Resona Asset Management Co. Ltd. lessened its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 4.7% in the third quarter, Holdings Channel reports. The firm owned 470,928 shares of the medical equipment provider’s stock after selling 23,169 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Boston Scientific were worth $45,932,000 at the end of the most recent quarter.

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

Boston Scientific Trading Up 1.4%

NYSE:BSX opened at $92.56 on Friday. The stock has a market cap of $137.22 billion, a price-to-earnings ratio of 49.50, a price-to-earnings-growth ratio of 1.62 and a beta of 0.67. Boston Scientific Corporation has a one year low of $85.98 and a one year high of $109.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.51. The business’s 50-day simple moving average is $95.70 and its 200 day simple moving average is $99.87.

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

Wall Street Analyst Weigh In

BSX has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating on shares of Boston Scientific in a research report on Thursday, January 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Boston Scientific in a research note on Wednesday. TD Cowen reiterated a “buy” rating on shares of Boston Scientific in a report on Thursday, December 11th. Evercore ISI set a $112.00 price target on Boston Scientific in a research report on Monday, January 5th. Finally, Robert W. Baird increased their price objective on shares of Boston Scientific from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $123.89.

Insider Transactions at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Monday, December 1st. The shares were sold at an average price of $101.55, for a total value of $1,758,135.15. Following the completion of the sale, the executive vice president owned 23,600 shares in the company, valued at approximately $2,396,580. The trade was a 42.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ellen M. Zane sold 12,891 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the completion of the sale, the director directly owned 24,134 shares in the company, valued at $2,371,889.52. This represents a 34.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 93,095 shares of company stock valued at $9,305,450. 0.50% of the stock is currently owned by corporate insiders.

About Boston Scientific

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.