Sumitomo Life Insurance Co. Purchases 4,113 Shares of Boston Scientific Co. (NYSE:BSX)

Sumitomo Life Insurance Co. grew its position in shares of Boston Scientific Co. (NYSE:BSX) by 5.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 82,256 shares of the medical equipment provider’s stock after buying an additional 4,113 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Boston Scientific were worth $3,720,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Allworth Financial LP increased its position in shares of Boston Scientific by 22.8% during the fourth quarter. Allworth Financial LP now owns 1,345 shares of the medical equipment provider’s stock valued at $61,000 after buying an additional 250 shares during the period. Contravisory Investment Management Inc. increased its position in shares of Boston Scientific by 17.1% during the fourth quarter. Contravisory Investment Management Inc. now owns 1,796 shares of the medical equipment provider’s stock valued at $81,000 after buying an additional 262 shares during the period. Whittier Trust Co. increased its position in shares of Boston Scientific by 25.2% during the third quarter. Whittier Trust Co. now owns 1,338 shares of the medical equipment provider’s stock valued at $54,000 after buying an additional 269 shares during the period. Advisor Partners LLC increased its position in shares of Boston Scientific by 0.6% during the fourth quarter. Advisor Partners LLC now owns 44,221 shares of the medical equipment provider’s stock valued at $1,882,000 after buying an additional 270 shares during the period. Finally, LS Investment Advisors LLC increased its position in shares of Boston Scientific by 0.7% during the third quarter. LS Investment Advisors LLC now owns 41,926 shares of the medical equipment provider’s stock valued at $1,706,000 after buying an additional 275 shares during the period. 91.11% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Williamson Scott purchased 250,000 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average price of $0.12 per share, for a total transaction of $30,000.00. Also, SVP Jeffrey B. Mirviss sold 23,077 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $44.00, for a total transaction of $1,015,388.00. Following the sale, the senior vice president now owns 123,561 shares in the company, valued at approximately $5,436,684. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,828 shares of company stock worth $9,695,889. Corporate insiders own 0.66% of the company’s stock.

Shares of NYSE:BSX traded down $0.42 during trading on Friday, reaching $43.15. 178,208 shares of the stock traded hands, compared to its average volume of 6,899,627. The stock has a 50-day moving average of $44.74 and a two-hundred day moving average of $42.46. Boston Scientific Co. has a 52-week low of $34.35 and a 52-week high of $46.62. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.14. The stock has a market cap of $61.40 billion, a P/E ratio of 56.23, a price-to-earnings-growth ratio of 2.15 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. Boston Scientific had a net margin of 10.49% and a return on equity of 23.10%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. Sell-side analysts expect that Boston Scientific Co. will post 1.57 earnings per share for the current year.

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Boston Scientific from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. ValuEngine cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Piper Sandler restated a “buy” rating on shares of Boston Scientific in a report on Tuesday, January 14th. Morgan Stanley upped their price objective on shares of Boston Scientific from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Raymond James cut their price objective on shares of Boston Scientific from $50.00 to $48.00 and set a “strong-buy” rating on the stock in a report on Monday, October 14th. One research analyst has rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $48.62.

Boston Scientific Company 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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