Allspring Global Investments Holdings LLC Lowers Position in Boston Scientific Corporation (NYSE:BSX)

Allspring Global Investments Holdings LLC reduced its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,855,240 shares of the medical equipment provider's stock after selling 183,751 shares during the period. Allspring Global Investments Holdings LLC owned 0.13% of Boston Scientific worth $187,824,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Brighton Jones LLC raised its holdings in Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after buying an additional 226 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Boston Scientific by 40.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock worth $6,529,000 after buying an additional 21,173 shares during the last quarter. Highview Capital Management LLC DE raised its holdings in Boston Scientific by 6.2% in the fourth quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock worth $2,189,000 after buying an additional 1,439 shares during the last quarter. IFP Advisors Inc raised its holdings in Boston Scientific by 17.4% in the fourth quarter. IFP Advisors Inc now owns 8,105 shares of the medical equipment provider's stock worth $724,000 after buying an additional 1,200 shares during the last quarter. Finally, Advisor OS LLC raised its holdings in Boston Scientific by 10.7% in the fourth quarter. Advisor OS LLC now owns 2,814 shares of the medical equipment provider's stock worth $251,000 after buying an additional 272 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now directly owns 1,535,706 shares in the company, valued at $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the completion of the transaction, the executive vice president now owns 178,342 shares of the company's stock, valued at approximately $18,347,824.96. The trade was a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 411,970 shares of company stock worth $42,406,693 over the last three months. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Stock Performance

Shares of BSX stock traded up $2.25 during mid-day trading on Friday, reaching $106.83. 15,636,958 shares of the company's stock traded hands, compared to its average volume of 6,623,509. Boston Scientific Corporation has a 12 month low of $71.88 and a 12 month high of $107.17. The firm has a 50 day moving average price of $102.74 and a two-hundred day moving average price of $99.62. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The firm has a market capitalization of $158.05 billion, a PE ratio of 77.98, a price-to-earnings-growth ratio of 2.75 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The firm had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. The company's revenue for the quarter was up 20.9% compared to the same quarter last year. On average, research analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. BTIG Research reaffirmed a "buy" rating and issued a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. Leerink Partners began coverage on shares of Boston Scientific in a report on Monday, June 16th. They issued an "outperform" rating and a $118.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and issued a $115.00 price target on shares of Boston Scientific in a research note on Wednesday, May 28th. Royal Bank Of Canada lifted their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Twenty-two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $116.09.

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.