Sumitomo Mitsui Asset Management Company LTD Acquires 5,894 Shares of Boston Scientific Co. (BSX)

Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 4.5% during the 1st quarter, Holdings Channel reports. The firm owned 137,610 shares of the medical equipment provider’s stock after buying an additional 5,894 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Boston Scientific were worth $5,281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quad Cities Investment Group LLC boosted its position in shares of Boston Scientific by 9.6% during the 4th quarter. Quad Cities Investment Group LLC now owns 3,424 shares of the medical equipment provider’s stock valued at $123,000 after acquiring an additional 300 shares during the last quarter. Scotia Capital Inc. boosted its position in shares of Boston Scientific by 4.3% during the 4th quarter. Scotia Capital Inc. now owns 7,240 shares of the medical equipment provider’s stock valued at $256,000 after acquiring an additional 300 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Boston Scientific by 4.8% during the 4th quarter. Quadrant Capital Group LLC now owns 6,532 shares of the medical equipment provider’s stock valued at $215,000 after acquiring an additional 302 shares during the last quarter. Kalos Management Inc. boosted its position in shares of Boston Scientific by 1.0% during the 4th quarter. Kalos Management Inc. now owns 31,123 shares of the medical equipment provider’s stock valued at $1,099,000 after acquiring an additional 315 shares during the last quarter. Finally, Kaizen Advisory LLC boosted its position in shares of Boston Scientific by 10.1% during the 4th quarter. Kaizen Advisory LLC now owns 3,632 shares of the medical equipment provider’s stock valued at $128,000 after acquiring an additional 333 shares during the last quarter. 91.43% of the stock is currently owned by institutional investors.

In other Boston Scientific news, SVP Arthur C. Butcher sold 15,225 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $39.95, for a total value of $608,238.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David A. Pierce sold 1,952 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $39.86, for a total value of $77,806.72. Following the completion of the transaction, the executive vice president now owns 52,223 shares of the company’s stock, valued at approximately $2,081,608.78. The disclosure for this sale can be found here. Insiders sold 275,677 shares of company stock valued at $11,027,956 in the last quarter. 0.66% of the stock is currently owned by company insiders.

BSX has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price target on shares of Boston Scientific in a report on Wednesday, February 6th. Guggenheim reaffirmed a “buy” rating and issued a $48.00 price target on shares of Boston Scientific in a report on Friday, February 8th. SunTrust Banks reaffirmed a “buy” rating and issued a $47.00 price target on shares of Boston Scientific in a report on Friday, February 8th. Canaccord Genuity reaffirmed a “buy” rating and issued a $45.00 price target on shares of Boston Scientific in a report on Monday, February 11th. Finally, Argus upped their price target on Boston Scientific from $43.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 13th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $41.53.

NYSE:BSX traded up $0.25 during trading hours on Friday, hitting $37.87. The company’s stock had a trading volume of 108,851 shares, compared to its average volume of 8,555,263. The stock has a market capitalization of $51.55 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 2.19 and a beta of 0.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.12 and a current ratio of 1.39. Boston Scientific Co. has a 52-week low of $29.84 and a 52-week high of $41.00.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Boston Scientific had a return on equity of 24.65% and a net margin of 18.08%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. On average, analysts predict that Boston Scientific Co. will post 1.55 EPS for the current year.

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Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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