Allspring Global Investments Holdings LLC Decreases Holdings in Boston Scientific Co. (NYSE:BSX)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,038,991 shares of the medical equipment provider's stock after selling 166,377 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.14% of Boston Scientific worth $182,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of BSX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Boston Scientific by 9.7% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider's stock worth $115,000 after acquiring an additional 119 shares in the last quarter. Adero Partners LLC boosted its position in Boston Scientific by 3.3% during the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock worth $334,000 after purchasing an additional 120 shares in the last quarter. Grove Bank & Trust grew its holdings in Boston Scientific by 4.4% in the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider's stock valued at $261,000 after purchasing an additional 122 shares during the period. PFG Investments LLC raised its stake in shares of Boston Scientific by 1.6% during the 4th quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider's stock worth $725,000 after buying an additional 125 shares during the period. Finally, Stonegate Investment Group LLC lifted its position in shares of Boston Scientific by 1.6% during the 4th quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider's stock valued at $699,000 after buying an additional 126 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Insiders Place Their Bets

In other news, EVP John Bradley Sorenson sold 6,528 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $104.97, for a total value of $685,244.16. Following the completion of the transaction, the executive vice president now owns 26,449 shares of the company's stock, valued at approximately $2,776,351.53. This trade represents a 19.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,830 shares of company stock worth $5,149,969 over the last ninety days. Corporate insiders own 0.50% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Raymond James upped their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a "strong-buy" rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price target for the company in a research report on Friday, January 10th. Mizuho lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Truist Financial boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. raised their target price on Boston Scientific from $100.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. One equities research 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 stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $107.39.

Boston Scientific Trading Down 0.2 %

Shares of NYSE BSX traded down $0.18 during mid-day trading on Wednesday, reaching $105.80. 5,456,226 shares of the company's stock were exchanged, compared to its average volume of 6,164,861. The firm has a market capitalization of $155.93 billion, a price-to-earnings ratio of 84.64, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a 52-week low of $64.54 and a 52-week high of $107.17. The company's 50-day moving average is $95.50 and its 200-day moving average is $87.72. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX - Get Free Report) last announced 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 18.11%. Analysts expect that Boston Scientific Co. will post 2.83 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.