Federated Hermes Inc. Has $151.75 Million Holdings in Boston Scientific Co. (NYSE:BSX)

Federated Hermes Inc. lifted its stake in Boston Scientific Co. (NYSE:BSX) by 5.5% during the 4th quarter, HoldingsChannel reports. The fund owned 1,698,890 shares of the medical equipment provider’s stock after buying an additional 88,550 shares during the period. Federated Hermes Inc.’s holdings in Boston Scientific were worth $151,745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of BSX. Vanguard Group Inc. increased its holdings in shares of Boston Scientific by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock worth $11,869,805,000 after purchasing an additional 1,600,062 shares during the period. Wellington Management Group LLP grew its position in Boston Scientific by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock worth $3,230,293,000 after buying an additional 3,344,571 shares in the last quarter. Geode Capital Management LLC increased its stake in Boston Scientific by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock valued at $2,729,371,000 after acquiring an additional 1,041,329 shares during the period. Norges Bank acquired a new position in Boston Scientific in the 4th quarter valued at approximately $1,762,522,000. Finally, Franklin Resources Inc. lifted its position in shares of Boston Scientific by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider’s stock worth $1,477,307,000 after acquiring an additional 832,386 shares during the period. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the subject of a number of recent research reports. UBS Group upped their target price on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Morgan Stanley increased their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Citigroup increased their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Finally, Canaccord Genuity Group lifted their price objective on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $108.91.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the sale, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Daniel J. Brennan sold 67,333 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the transaction, the chief financial officer now owns 225,808 shares in the company, valued at approximately $23,764,033.92. The trade was a 22.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,183 shares of company stock worth $13,948,476 over the last 90 days. 0.50% of the stock is owned by insiders.

Boston Scientific Stock Down 8.9 %

Shares of NYSE:BSX opened at $89.78 on Friday. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17. The firm has a market cap of $132.78 billion, a P/E ratio of 71.82, a P/E/G ratio of 2.79 and a beta of 0.77. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $101.90 and its two-hundred day moving average price is $93.63.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, research analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

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.