Nomura Asset Management Co. Ltd. Grows Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Nomura Asset Management Co. Ltd. lifted its holdings in Boston Scientific Co. (NYSE:BSX) by 13.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,329,144 shares of the medical equipment provider’s stock after buying an additional 155,336 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Boston Scientific were worth $118,719,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Boston Scientific by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after purchasing an additional 1,600,062 shares during the period. State Street Corp increased its position in shares of Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after purchasing an additional 1,389,172 shares during the last quarter. Wellington Management Group LLP raised its holdings in Boston Scientific by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after buying an additional 718,515 shares during the period. Geode Capital Management LLC lifted its position in Boston Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after buying an additional 480,729 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Boston Scientific in the 4th quarter worth about $1,762,522,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BSX shares. Truist Financial increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Argus set a $130.00 price objective on Boston Scientific in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Friday, January 10th. JPMorgan Chase & Co. boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Finally, Morgan Stanley boosted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

Insider Activity

In related news, EVP John Bradley Sorenson sold 1,201 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the completion of the transaction, the executive vice president now directly owns 25,443 shares in the company, valued at $2,704,845.33. The trade was a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the completion of the transaction, the chief financial officer now directly owns 225,808 shares of the company’s stock, valued at $23,764,033.92. The trade was a 22.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,302 shares of company stock valued at $14,319,269 over the last ninety days. 0.50% of the stock is currently owned by insiders.

Boston Scientific Trading Down 1.6 %

Boston Scientific stock opened at $100.74 on Friday. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The stock has a market cap of $149.01 billion, a PE ratio of 80.59, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The stock has a 50-day moving average of $102.15 and a two-hundred day moving average of $92.93.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, research analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.