abrdn plc Sells 317,252 Shares of Boston Scientific Co. (NYSE:BSX)

abrdn plc trimmed its position in Boston Scientific Co. (NYSE:BSX) by 10.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,621,224 shares of the medical equipment provider’s stock after selling 317,252 shares during the period. abrdn plc’s holdings in Boston Scientific were worth $234,482,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. State Street Corp raised its position 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 during the last quarter. Wellington Management Group LLP increased its stake in shares of Boston Scientific by 2.2% in the third 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 raised its holdings in 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 grew its holdings in Boston Scientific by 17.5% during the 3rd 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 during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now directly owns 39,398 shares in the company, valued at $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,989 shares of company stock worth $2,702,261. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

BSX has been the subject of several analyst reports. Mizuho raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler lifted their target price on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday. Royal Bank of Canada increased their price target on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. upped their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. One analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $100.39.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $103.11 on Tuesday. Boston Scientific Co. has a twelve month low of $64.08 and a twelve month high of $104.25. The stock’s 50 day moving average is $93.47 and its 200-day moving average is $86.33. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $151.97 billion, a price-to-earnings ratio of 85.22, a PEG ratio of 2.68 and a beta of 0.80.

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.