Mitsubishi UFJ Trust & Banking Corp Sells 43,237 Shares of Boston Scientific Corporation $BSX

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Boston Scientific Corporation (NYSE:BSX) by 5.5% during the third quarter, HoldingsChannel reports. The firm 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 institutional investors also recently modified their holdings of BSX. FWL Investment Management LLC acquired a new stake in Boston Scientific in the second quarter valued at about $26,000. Sound Income Strategies LLC lifted its holdings in shares of Boston Scientific by 90.9% in the second quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 120 shares during the last quarter. Steph & Co. acquired a new stake in shares of Boston Scientific in the 3rd quarter valued at approximately $25,000. Financial Consulate Inc. bought a new stake in shares of Boston Scientific during the 3rd quarter valued at approximately $25,000. Finally, Kilter Group LLC acquired a new position in Boston Scientific during the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Performance

NYSE BSX opened at $92.56 on Friday. The company has a market capitalization of $137.22 billion, a price-to-earnings 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 Corporation has a twelve month low of $85.98 and a twelve month high of $109.50. The stock has a fifty day simple moving average of $95.70 and a 200 day simple moving average of $99.85.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.97 billion. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The business’s revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS. Sell-side analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BSX shares. Barclays raised their target price on shares of Boston Scientific from $133.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Robert W. Baird increased their price target on Boston Scientific from $123.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Truist Financial reduced their price objective on Boston Scientific from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. Oppenheimer lowered their target price on Boston Scientific from $125.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 16th. Finally, Royal Bank Of Canada lifted their price target on Boston Scientific from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $123.89.

Insider Buying and Selling

In related news, Director Ellen M. Zane sold 12,891 shares of the company’s stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 23,600 shares of the company’s stock, valued at approximately $2,396,580. The trade was a 42.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 93,095 shares of company stock valued at $9,305,450 over the last ninety days. 0.50% of the stock is owned by company insiders.

Boston Scientific 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.