Sumitomo Mitsui Trust Holdings Inc. Sells 166,700 Shares of Boston Scientific Co. (NYSE:BSX)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Boston Scientific Co. (NYSE:BSX – Get Rating) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,901,733 shares of the medical equipment provider’s stock after selling 166,700 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.27% of Boston Scientific worth $165,746,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Private Capital Group LLC grew its position in Boston Scientific by 8.4% during the 4th quarter. Private Capital Group LLC now owns 3,184 shares of the medical equipment provider’s stock worth $135,000 after acquiring an additional 248 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Boston Scientific by 3.0% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 8,662 shares of the medical equipment provider’s stock worth $376,000 after buying an additional 249 shares in the last quarter. Midwest Professional Planners LTD. lifted its holdings in Boston Scientific by 0.9% during the 3rd quarter. Midwest Professional Planners LTD. now owns 28,455 shares of the medical equipment provider’s stock worth $1,235,000 after buying an additional 250 shares in the last quarter. Bank of Marin lifted its stake in shares of Boston Scientific by 1.3% in the 3rd quarter. Bank of Marin now owns 19,663 shares of the medical equipment provider’s stock valued at $853,000 after purchasing an additional 250 shares during the period. Finally, Farmers & Merchants Investments Inc. lifted its stake in shares of Boston Scientific by 26.9% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 1,212 shares of the medical equipment provider’s stock valued at $53,000 after purchasing an additional 257 shares during the period. Institutional investors own 89.75% of the company’s stock.

NYSE:BSX traded down $0.37 during trading hours on Monday, reaching $44.47. 41,377 shares of the stock were exchanged, compared to its average volume of 8,971,562. Boston Scientific Co. has a twelve month low of $37.96 and a twelve month high of $46.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.48 and a quick ratio of 1.10. The firm has a 50 day moving average of $43.51 and a 200 day moving average of $42.81. The stock has a market cap of $63.45 billion, a PE ratio of 64.99, a PEG ratio of 2.47 and a beta of 0.83.

Boston Scientific (NYSE:BSX – Get Rating) last announced its quarterly earnings data on Wednesday, February 2nd. The medical equipment provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Boston Scientific had a return on equity of 14.43% and a net margin of 8.63%. The company had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the prior year, the business posted $0.23 EPS. The business’s revenue was up 15.5% compared to the same quarter last year. Equities research analysts anticipate that Boston Scientific Co. will post 1.76 earnings per share for the current year.

In related news, SVP Scott Olson sold 700 shares of the stock in a transaction on Friday, April 1st. The stock was sold at an average price of $44.55, for a total value of $31,185.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP John Bradley Sorenson sold 13,167 shares of the stock in a transaction on Monday, February 7th. The stock was sold at an average price of $43.20, for a total value of $568,814.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,254 shares of company stock worth $4,460,664. Company insiders own 0.66% of the company’s stock.

A number of research analysts have recently weighed in on the company. Morgan Stanley cut their price target on Boston Scientific from $53.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, February 3rd. SVB Leerink lowered their price objective on shares of Boston Scientific from $48.00 to $45.00 and set a “market perform” rating for the company in a research report on Thursday, February 3rd. Raymond James lowered their price objective on shares of Boston Scientific from $51.00 to $49.00 and set a “strong-buy” rating for the company in a research report on Thursday, February 3rd. Truist Financial upped their price objective on shares of Boston Scientific from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, December 21st. Finally, StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Thursday, March 24th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Buy” and a consensus target price of $49.20.

About Boston Scientific (Get Rating)

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 devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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