Federated Hermes Inc. Acquires 88,550 Shares of Boston Scientific Co. (NYSE:BSX)

Federated Hermes Inc. boosted its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,698,890 shares of the medical equipment provider's stock after acquiring an additional 88,550 shares during the period. Federated Hermes Inc. owned approximately 0.12% of Boston Scientific worth $151,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mechanics Bank Trust Department bought a new stake in Boston Scientific in the 4th quarter valued at $415,000. Highland Capital Management LLC bought a new stake in Boston Scientific during the 4th quarter worth about $4,887,000. Covenant Asset Management LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth about $3,405,000. Brookstone Capital Management grew its holdings in shares of Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock valued at $9,455,000 after acquiring an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. increased its position in shares of Boston Scientific by 31.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider's stock valued at $1,744,000 after acquiring an additional 4,702 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Daniel J. Brennan sold 67,333 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the sale, the chief financial officer now directly owns 225,808 shares in the company, valued at $23,764,033.92. This represents a 22.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction dated 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 completion of 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. In the last ninety days, insiders have sold 133,183 shares of company stock valued at $13,948,476. 0.50% of the stock is owned by insiders.

Boston Scientific Stock Up 1.2 %

Shares of BSX stock traded up $1.10 during trading hours on Friday, reaching $93.74. The company had a trading volume of 3,274,111 shares, compared to its average volume of 6,332,585. The company has a market cap of $138.64 billion, a price-to-earnings ratio of 74.78, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The business has a fifty day simple moving average of $100.73 and a 200-day simple moving average of $93.95. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX - Get Free Report) last released 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%. On average, research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BSX shares. Stifel Nicolaus increased their price target on Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Royal Bank of Canada increased their price objective on Boston Scientific from $105.00 to $116.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. StockNews.com lowered shares of Boston Scientific from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Needham & Company LLC reiterated a "hold" rating on shares of Boston Scientific in a research note on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price target on the stock in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific presently has an average rating of "Moderate Buy" and a consensus target price of $109.04.

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.