Federated Hermes Inc. Sells 168,986 Shares of Boston Scientific Corporation $BSX

Federated Hermes Inc. cut its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 9.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,644,519 shares of the medical equipment provider’s stock after selling 168,986 shares during the quarter. Federated Hermes Inc. owned approximately 0.11% of Boston Scientific worth $160,554,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of Boston Scientific during the second quarter worth about $2,089,937,000. Edgewood Management LLC purchased a new position in Boston Scientific in the 2nd quarter worth approximately $746,655,000. Parnassus Investments LLC boosted its stake in Boston Scientific by 42,978.9% in the 3rd quarter. Parnassus Investments LLC now owns 6,884,440 shares of the medical equipment provider’s stock worth $672,128,000 after purchasing an additional 6,868,459 shares during the period. Bessemer Group Inc. grew its holdings in Boston Scientific by 14,391.8% during the 2nd quarter. Bessemer Group Inc. now owns 2,919,801 shares of the medical equipment provider’s stock valued at $313,618,000 after buying an additional 2,899,653 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Boston Scientific by 133.5% during the third quarter. Jennison Associates LLC now owns 4,938,746 shares of the medical equipment provider’s stock valued at $482,170,000 after buying an additional 2,823,744 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

NYSE BSX opened at $93.63 on Wednesday. The company has a market cap of $138.81 billion, a P/E ratio of 50.07, a P/E/G ratio of 1.70 and a beta of 0.67. The business’s 50 day moving average price is $95.42 and its 200-day moving average price is $99.69. Boston Scientific Corporation has a fifty-two week low of $85.98 and a fifty-two week high of $109.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.51.

Insider Buying and Selling

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the completion of the transaction, the executive vice president owned 23,600 shares in the company, valued at $2,396,580. The trade was a 42.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $99.47, for a total value of $4,973,500.00. Following the transaction, the executive vice president directly owned 178,342 shares in the company, valued at approximately $17,739,678.74. This represents a 21.90% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 80,204 shares of company stock valued at $7,998,563. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating on shares of Boston Scientific in a research report on Thursday, January 15th. The Goldman Sachs Group reissued a “buy” rating and set a $112.00 price objective on shares of Boston Scientific in a report on Friday, January 9th. Leerink Partners lifted their target price on Boston Scientific from $127.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Citigroup reissued a “buy” rating on shares of Boston Scientific in a research note on Wednesday, January 14th. Finally, Morgan Stanley lifted their price objective on Boston Scientific from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.89.

About Boston Scientific

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.