Boston Scientific Co. (NYSE:BSX) Position Raised by Federated Hermes Inc.

Federated Hermes Inc. raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,698,890 shares of the medical equipment provider’s stock after purchasing an additional 88,550 shares during the quarter. Federated Hermes Inc. owned about 0.12% of Boston Scientific worth $151,745,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BSX. Atika Capital Management LLC bought a new stake in Boston Scientific in the fourth quarter worth about $7,610,000. Ilmarinen Mutual Pension Insurance Co grew its stake in shares of Boston Scientific by 31.5% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 263,000 shares of the medical equipment provider’s stock worth $23,491,000 after purchasing an additional 63,000 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Boston Scientific by 11.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,096,314 shares of the medical equipment provider’s stock worth $97,971,000 after purchasing an additional 111,991 shares in the last quarter. Hurley Capital LLC acquired a new stake in Boston Scientific during the fourth quarter valued at approximately $45,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Boston Scientific by 1.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,441,719 shares of the medical equipment provider’s stock worth $218,094,000 after buying an additional 43,992 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Down 8.9 %

BSX opened at $89.78 on Friday. The company has a market capitalization of $132.78 billion, a PE ratio of 71.82, 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 current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a fifty-two week low of $66.80 and a fifty-two week high of $107.17. The business has a 50-day moving average of $101.90 and a 200-day moving average of $93.63.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Equities research analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the sale, the executive vice president now directly owns 28,454 shares in the company, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of the firm’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 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 disclosure for this sale can be found here. Over the last three months, insiders sold 133,183 shares of company stock worth $13,948,476. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on BSX. Citigroup upped their price target on Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Royal Bank of Canada upped their target price on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Piper Sandler lifted their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Canaccord Genuity Group upped their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Morgan Stanley raised their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.91.

Boston Scientific 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.