Federated Hermes Inc. Lowers Stake in Boston Scientific Corporation $BSX

Federated Hermes Inc. lessened its stake in Boston Scientific Corporation (NYSE:BSX) by 9.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,644,519 shares of the medical equipment provider’s stock after selling 168,986 shares during the quarter. Federated Hermes Inc.’s holdings in Boston Scientific were worth $160,554,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Boston Scientific by 1.1% during the 2nd quarter. State Street Corp now owns 65,191,864 shares of the medical equipment provider’s stock worth $7,002,258,000 after buying an additional 713,379 shares in the last quarter. Synergy Asset Management LLC lifted its stake in Boston Scientific by 3,493.0% in the third quarter. Synergy Asset Management LLC now owns 493,323 shares of the medical equipment provider’s stock worth $48,297,000 after acquiring an additional 479,593 shares during the period. Gladstone Institutional Advisory LLC grew its holdings in Boston Scientific by 39.5% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 51,884 shares of the medical equipment provider’s stock worth $5,065,000 after acquiring an additional 14,700 shares in the last quarter. Channel Wealth LLC increased its position in Boston Scientific by 70.8% during the 3rd quarter. Channel Wealth LLC now owns 28,577 shares of the medical equipment provider’s stock valued at $2,790,000 after purchasing an additional 11,847 shares during the period. Finally, Bank of Nova Scotia increased its position in Boston Scientific by 106.4% during the 2nd quarter. Bank of Nova Scotia now owns 3,025,519 shares of the medical equipment provider’s stock valued at $324,971,000 after purchasing an additional 1,559,605 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BSX. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $112.00 price target on shares of Boston Scientific in a research report on Friday, January 9th. Wells Fargo & Company upped their target price on Boston Scientific from $124.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Citigroup reiterated a “buy” rating on shares of Boston Scientific in a report on Wednesday, January 14th. Canaccord Genuity Group decreased their price objective on Boston Scientific from $132.00 to $131.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Finally, BTIG Research reiterated a “buy” rating and issued a $132.00 target price on shares of Boston Scientific in a research note on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.89.

Boston Scientific Stock Up 0.1%

Boston Scientific stock opened at $93.63 on Wednesday. Boston Scientific Corporation has a 1-year low of $85.98 and a 1-year high of $109.50. The business has a fifty day moving average price of $95.42 and a 200-day moving average price of $99.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.96. The stock has a market capitalization of $138.81 billion, a price-to-earnings ratio of 50.07, a PEG ratio of 1.70 and a beta of 0.67.

Insiders Place Their Bets

In other news, Director Ellen M. Zane sold 12,891 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the sale, the director owned 24,134 shares in the company, valued at approximately $2,371,889.52. The trade was a 34.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the completion of the transaction, the executive vice president directly owned 178,342 shares of the company’s stock, valued at $17,739,678.74. The trade was a 21.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 80,204 shares of company stock valued at $7,998,563. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.