Federated Hermes Inc. Sells 419 Shares of Boston Scientific Co. (NYSE:BSX)

Federated Hermes Inc. trimmed its stake in Boston Scientific Co. (NYSE:BSX) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,870 shares of the medical equipment provider’s stock after selling 419 shares during the period. Federated Hermes Inc.’s holdings in Boston Scientific were worth $10,514,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BSX. Victory Capital Management Inc. lifted its holdings in shares of Boston Scientific by 5.6% during the 3rd quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock worth $27,353,000 after acquiring an additional 27,620 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Boston Scientific during the 4th quarter worth about $5,116,000. Glenmede Trust Co. NA lifted its holdings in shares of Boston Scientific by 12.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after acquiring an additional 1,123 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Boston Scientific by 2.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock worth $98,683,000 after acquiring an additional 38,249 shares during the period. Finally, HealthInvest Partners AB bought a new position in shares of Boston Scientific during the 4th quarter worth about $3,746,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Up 1.4 %

Shares of NYSE BSX opened at $68.99 on Wednesday. The stock has a market cap of $101.22 billion, a P/E ratio of 64.48, a P/E/G ratio of 2.36 and a beta of 0.78. The firm has a 50 day moving average price of $67.39 and a 200 day moving average price of $60.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $69.21.

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

Insider Activity

In other news, EVP John Bradley Sorenson sold 16,351 shares of the company’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 value of $1,133,124.30. Following the completion of the transaction, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the sale, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock worth $3,418,529 over the last quarter. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BSX shares. BTIG Research reaffirmed a “buy” rating and set a $64.00 price objective on shares of Boston Scientific in a report on Friday, December 29th. Royal Bank of Canada lifted their price target on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Monday, April 15th. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 16th. Evercore ISI lifted their price target on shares of Boston Scientific from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Needham & Company LLC lifted their price target on shares of Boston Scientific from $60.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

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.