Dai ichi Life Insurance Company Ltd Has $31.73 Million Stake in Boston Scientific Co. (NYSE:BSX)

Dai ichi Life Insurance Company Ltd raised its position in Boston Scientific Co. (NYSE:BSX) by 18.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,668 shares of the medical equipment provider’s stock after buying an additional 59,330 shares during the quarter. Boston Scientific accounts for 0.8% of Dai ichi Life Insurance Company Ltd’s holdings, making the stock its 23rd biggest holding. Dai ichi Life Insurance Company Ltd’s holdings in Boston Scientific were worth $31,732,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Triad Wealth Partners LLC bought a new stake in Boston Scientific in the 2nd quarter valued at about $26,000. Values First Advisors Inc. acquired a new stake in Boston Scientific during the third quarter worth approximately $28,000. Andra AP fonden acquired a new position in Boston Scientific in the 2nd quarter valued at $29,000. Lynx Investment Advisory bought a new stake in Boston Scientific during the second quarter worth about $30,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in Boston Scientific during the third quarter worth $30,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 0.8 %

Shares of Boston Scientific stock opened at $89.25 on Tuesday. The company has a 50-day simple moving average of $86.11 and a two-hundred day simple moving average of $80.32. Boston Scientific Co. has a 52-week low of $53.93 and a 52-week high of $91.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The stock has a market capitalization of $131.53 billion, a PE ratio of 73.76, a price-to-earnings-growth ratio of 2.65 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 EPS. On average, analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BSX shares. Barclays raised their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Evercore ISI lifted their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. BTIG Research increased their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Morgan Stanley boosted their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Mizuho upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This represents a 15.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 328,157 shares of company stock worth $27,894,270. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Company Profile

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.