Ninety One UK Ltd Sells 591,945 Shares of Boston Scientific Co. (NYSE:BSX)

Ninety One UK Ltd cut its stake in Boston Scientific Co. (NYSE:BSX) by 14.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,622,807 shares of the medical equipment provider’s stock after selling 591,945 shares during the quarter. Ninety One UK Ltd’s holdings in Boston Scientific were worth $323,589,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BSX. State Street Corp increased its stake in Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after purchasing an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Boston Scientific by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after buying an additional 718,515 shares during the period. Geode Capital Management LLC increased its position in shares of Boston Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after buying an additional 480,729 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Boston Scientific by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after buying an additional 64,720 shares during the period. Finally, Impax Asset Management Group plc lifted its holdings in Boston Scientific by 17.5% during the third quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after acquiring an additional 815,403 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BSX has been the subject of several recent analyst reports. Piper Sandler increased their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Stifel Nicolaus lifted their price target on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Sanford C. Bernstein increased their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Bank of America boosted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boston Scientific presently has a consensus rating of “Buy” and an average target price of $100.39.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $103.53 on Wednesday. Boston Scientific Co. has a twelve month low of $64.08 and a twelve month high of $104.25. The company has a market cap of $152.58 billion, a PE ratio of 85.56, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. The business’s 50 day moving average price is $93.75 and its two-hundred day moving average price is $86.53. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the sale, the executive vice president now owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. The trade was a 19.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,302 shares of company stock valued at $4,464,725. 0.50% of the stock is owned by insiders.

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.