Boston Scientific Corporation (NYSE:BSX) Stock Holdings Increased by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. has increased its stake in Boston Scientific Corporation by 5.6%, now owning approximately 1.79 million shares valued at $181.06 million.
• Institutional ownership remains high, with 89.07% of the company's stock held by institutional investors and hedge funds, highlighting strong market confidence.
• Boston Scientific recently reported a quarterly earnings performance, achieving $0.75 EPS which surpassed analysts' expectations, indicating a 22.8% increase in revenue year-over-year.

Federated Hermes Inc. lifted its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 5.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,794,840 shares of the medical equipment provider's stock after acquiring an additional 95,950 shares during the period. Federated Hermes Inc. owned 0.12% of Boston Scientific worth $181,063,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BSX. Brighton Jones LLC raised its position in shares of Boston Scientific by 0.8% during the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after acquiring an additional 226 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in Boston Scientific by 40.8% during 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 period. Highview Capital Management LLC DE increased its position in Boston Scientific by 6.2% during 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 period. Blair William & Co. IL increased its position in Boston Scientific by 12.3% during the fourth quarter. Blair William & Co. IL now owns 22,437 shares of the medical equipment provider's stock worth $2,004,000 after buying an additional 2,461 shares during the period. Finally, New Age Alpha Advisors LLC increased its position in Boston Scientific by 10,685.1% during the fourth quarter. New Age Alpha Advisors LLC now owns 20,923 shares of the medical equipment provider's stock worth $1,869,000 after buying an additional 20,729 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BSX shares. Wells Fargo & Company lifted their price target on Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Oppenheimer boosted their target price on Boston Scientific from $110.00 to $118.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Barclays lifted their price target on Boston Scientific from $125.00 to $133.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. BTIG Research reiterated a "buy" rating and set a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, April 23rd. Finally, Leerink Partners started coverage on Boston Scientific in a research report on Monday, June 16th. They set an "outperform" rating and a $118.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $117.50.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the 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 transaction, the executive vice president owned 178,342 shares of the company's stock, valued at $18,347,824.96. This trade represents a 24.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,314 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the transaction, the executive vice president directly owned 22,235 shares in the company, valued at approximately $2,269,304.10. This represents a 43.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 464,045 shares of company stock worth $48,030,786 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Up 0.2%

BSX traded up $0.22 on Wednesday, reaching $106.69. The company's stock had a trading volume of 7,162,908 shares, compared to its average volume of 7,725,030. The stock has a market cap of $157.84 billion, a price-to-earnings ratio of 63.51, a price-to-earnings-growth ratio of 2.55 and a beta of 0.68. Boston Scientific Corporation has a 1 year low of $71.88 and a 1 year high of $108.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. The business's 50 day moving average is $103.56 and its 200 day moving average is $101.69.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.03. Boston Scientific had a return on equity of 19.39% and a net margin of 13.55%. The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the business posted $0.62 earnings per share. Boston Scientific's revenue for the quarter was up 22.8% on a year-over-year basis. As a group, research analysts forecast that Boston Scientific Corporation 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.