Ninety One UK Ltd Sells 412,050 Shares of Boston Scientific Co. (NYSE:BSX)

Ninety One UK Ltd cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,448,776 shares of the medical equipment provider’s stock after selling 412,050 shares during the quarter. Ninety One UK Ltd owned approximately 0.30% of Boston Scientific worth $257,184,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC increased its stake in shares of Boston Scientific by 6.8% in the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after buying an additional 8,045,263 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Boston Scientific by 1.2% in the third quarter. Vanguard Group Inc. now owns 123,768,348 shares of the medical equipment provider’s stock valued at $6,534,969,000 after buying an additional 1,525,432 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Boston Scientific by 5.9% in the third quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock valued at $2,221,641,000 after buying an additional 2,336,348 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Boston Scientific by 1.9% in the first 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 buying an additional 473,888 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Boston Scientific by 7.6% in the fourth 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 in the last quarter. 89.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BSX shares. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Truist Financial raised their target price on Boston Scientific from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. TD Cowen lifted their price objective on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. lifted their price objective on Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Finally, Evercore ISI lifted their price objective on Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $68.50.

Boston Scientific Trading Down 0.6 %

Shares of Boston Scientific stock traded down $0.40 during trading on Thursday, hitting $67.56. 2,492,748 shares of the company were exchanged, compared to its average volume of 6,321,224. The firm has a market capitalization of $99.12 billion, a P/E ratio of 63.51, a price-to-earnings-growth ratio of 2.39 and a beta of 0.78. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $69.21. The firm’s fifty day moving average price is $67.17 and its 200 day moving average price is $59.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82.

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

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the transaction, the executive vice president now owns 56,508 shares in the company, valued at approximately $3,779,820.12. The transaction was disclosed in a document filed 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 stock was 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 approximately $2,690,551.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares in the company, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock worth $3,418,529 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

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.