Boston Scientific Corporation $BSX Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lessened its position in Boston Scientific Corporation (NYSE:BSX) by 4.7% in the 3rd quarter, according to its most recent filing with the SEC. 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 reporting period.

Several other hedge funds have also modified their holdings of BSX. FWL Investment Management LLC acquired a new position in Boston Scientific during the second quarter worth about $26,000. Sound Income Strategies LLC boosted its stake in shares of Boston Scientific by 90.9% during the 2nd 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 in the last quarter. Steph & Co. purchased a new stake in shares of Boston Scientific during the 3rd quarter worth approximately $25,000. Financial Consulate Inc. acquired a new stake in shares of Boston Scientific in the 3rd quarter worth approximately $25,000. Finally, Kilter Group LLC purchased a new position in Boston Scientific in the 2nd quarter valued at approximately $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on BSX. Morgan Stanley boosted their target price on Boston Scientific from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Barclays boosted their price objective on shares of Boston Scientific from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Oppenheimer dropped their target price on shares of Boston Scientific from $125.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, January 16th. The Goldman Sachs Group reiterated a “buy” rating and issued a $112.00 price target on shares of Boston Scientific in a research report on Friday, January 9th. Finally, BTIG Research restated a “buy” rating and set a $132.00 price objective on shares of Boston Scientific in a research report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.89.

Boston Scientific Trading Up 1.4%

Shares of BSX opened at $92.56 on Friday. Boston Scientific Corporation has a fifty-two week low of $85.98 and a fifty-two week high of $109.50. The stock has a fifty day moving average of $95.70 and a two-hundred day moving average of $99.87. 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 company has a market capitalization of $137.22 billion, a PE ratio of 49.50, a price-to-earnings-growth ratio of 1.62 and a beta of 0.67.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, beating 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 firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same period in the prior year, the firm posted $0.63 earnings per share. The business’s quarterly revenue was up 20.3% compared to the same quarter last year. As a group, analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insider Transactions at Boston Scientific

In other Boston Scientific 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 transaction, the executive vice president owned 23,600 shares in the company, valued at $2,396,580. This trade represents a 42.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $99.47, for a total value of $4,973,500.00. Following the sale, the executive vice president owned 178,342 shares of the company’s stock, valued at approximately $17,739,678.74. The trade was a 21.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 93,095 shares of company stock worth $9,305,450 in the last three months. Company insiders own 0.50% of the company’s stock.

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.