Boston Scientific Co. (NYSE:BSX) Shares Sold by abrdn plc

abrdn plc cut its holdings in Boston Scientific Co. (NYSE:BSX) by 46.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,609,834 shares of the medical equipment provider’s stock after selling 3,105,060 shares during the quarter. abrdn plc owned approximately 0.25% of Boston Scientific worth $208,685,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. FMR LLC boosted its position in Boston Scientific by 6.8% during the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after acquiring an additional 8,045,263 shares during the last quarter. Vanguard Group Inc. increased its position in Boston Scientific by 1.2% during the third quarter. Vanguard Group Inc. now owns 123,768,348 shares of the medical equipment provider’s stock worth $6,534,969,000 after purchasing an additional 1,525,432 shares during the last quarter. Wellington Management Group LLP raised its stake in Boston Scientific by 5.9% during the third quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after purchasing an additional 2,336,348 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Boston Scientific by 1.9% in the 1st quarter. Geode Capital Management LLC now owns 25,329,129 shares of the medical equipment provider’s stock valued at $1,263,857,000 after purchasing an additional 473,888 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Boston Scientific by 7.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 23,393,853 shares of the medical equipment provider’s stock valued at $1,082,436,000 after buying an additional 1,659,431 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock valued at $3,418,529 over the last quarter. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on BSX. Citigroup upped their price objective on Boston Scientific from $71.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Needham & Company LLC upped their price objective on Boston Scientific from $60.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. upped their price objective on Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Wells Fargo & Company upped their price objective on Boston Scientific from $70.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Raymond James upped their price objective on Boston Scientific from $67.00 to $73.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

Boston Scientific Stock Performance

NYSE BSX traded down $0.09 during trading hours on Friday, reaching $67.33. The company’s stock had a trading volume of 6,966,282 shares, compared to its average volume of 5,053,271. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The business has a 50-day simple moving average of $67.25 and a 200 day simple moving average of $59.84. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $69.21. The stock has a market cap of $98.78 billion, a PE ratio of 62.93, a PEG ratio of 2.36 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter last year, the company posted $0.45 earnings per share. Equities research analysts predict that Boston Scientific Co. will post 2.25 earnings per share 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.