abrdn plc Has $208.69 Million Position in Boston Scientific Co. (NYSE:BSX)

abrdn plc cut its position in Boston Scientific Co. (NYSE:BSX) by 46.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,609,834 shares of the medical equipment provider’s stock after selling 3,105,060 shares during the period. abrdn plc’s holdings in Boston Scientific were worth $208,685,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BSX. Moneta Group Investment Advisors LLC raised its holdings in Boston Scientific by 112,306.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,661,660 shares of the medical equipment provider’s stock worth $863,475,000 after purchasing an additional 18,645,058 shares during the period. Norges Bank acquired a new stake in Boston Scientific in the fourth quarter worth $632,520,000. FMR LLC raised its holdings in Boston Scientific by 6.8% in the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after purchasing an additional 8,045,263 shares during the period. Steadfast Capital Management LP acquired a new stake in Boston Scientific in the fourth quarter worth $138,969,000. Finally, American Century Companies Inc. raised its holdings in Boston Scientific by 391.6% in the third quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock worth $172,752,000 after purchasing an additional 2,606,253 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

Shares of NYSE BSX traded down $0.09 during mid-day trading on Friday, reaching $67.33. 6,966,282 shares of the company were exchanged, compared to its average volume of 5,053,271. The company’s 50-day simple moving average is $67.25 and its 200-day simple moving average is $59.84. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $98.78 billion, a P/E ratio of 62.93, a P/E/G ratio of 2.36 and a beta of 0.78. Boston Scientific Co. has a twelve month low of $48.35 and a twelve month 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 for the quarter, topping the consensus estimate of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the previous year, the company earned $0.45 EPS. As a group, research analysts predict that Boston Scientific Co. will post 2.25 earnings per share for the current year.

Insider Activity

In related news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the sale, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the business’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 transaction of $455,210.00. Following the sale, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the sale, the chief financial officer now directly owns 271,542 shares in the company, valued at $17,883,756.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BSX. Raymond James increased their target price on shares of Boston Scientific from $67.00 to $73.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 1st. Royal Bank of Canada raised their price objective on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. BTIG Research restated a “buy” rating and set a $64.00 price objective on shares of Boston Scientific in a report on Friday, December 29th. Truist Financial raised their price objective on shares of Boston Scientific from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Two investment 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. Based on data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $68.50.

Boston Scientific Company 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.