abrdn plc Decreases Stake in Boston Scientific Co. (NYSE:BSX)

abrdn plc lessened its holdings in Boston Scientific Co. (NYSE:BSX) by 8.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,938,476 shares of the medical equipment provider’s stock after selling 269,470 shares during the period. abrdn plc owned approximately 0.20% of Boston Scientific worth $244,173,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BSX. CRA Financial Services LLC boosted its position in Boston Scientific by 4.3% in the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 117 shares during the last quarter. CVA Family Office LLC grew its position in Boston Scientific by 7.4% during the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after buying an additional 131 shares during the period. International Assets Investment Management LLC increased its holdings in Boston Scientific by 0.6% during the second quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock worth $1,740,000 after buying an additional 139 shares during the last quarter. ST Germain D J Co. Inc. increased its holdings in Boston Scientific by 8.0% during the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock worth $148,000 after buying an additional 143 shares during the last quarter. Finally, Transcend Capital Advisors LLC boosted its stake in Boston Scientific by 2.2% in the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after acquiring an additional 148 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Up 0.0 %

BSX opened at $84.76 on Tuesday. The business’s fifty day simple moving average is $83.59 and its 200 day simple moving average is $77.98. Boston Scientific Co. has a 52 week low of $49.56 and a 52 week high of $88.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The stock has a market cap of $124.35 billion, a PE ratio of 71.23, a P/E/G ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 EPS. As a group, research analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Thursday, October 24th. Barclays boosted their target price on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Sanford C. Bernstein increased their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Raymond James boosted their price objective on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 316,253 shares of company stock worth $26,714,298. 0.50% of the stock is currently owned by insiders.

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.