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

Allspring Global Investments Holdings LLC decreased its position in Boston Scientific Co. (NYSE:BSX) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Values First Advisors Inc. purchased a new position in shares of Boston Scientific during the third quarter worth approximately $28,000. Dunhill Financial LLC boosted its holdings in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares in the last quarter. Global Wealth Strategies & Associates increased its position in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 250 shares during the period. West Oak Capital LLC acquired a new position in Boston Scientific during the fourth quarter worth $29,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Boston Scientific during the third quarter worth about $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $106.03 on Wednesday. The firm has a market cap of $156.26 billion, a PE ratio of 84.82, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average price of $95.19 and a two-hundred day moving average price of $87.50. Boston Scientific Co. has a fifty-two week low of $64.54 and a fifty-two week high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. Sell-side analysts expect that Boston Scientific Co. will post 2.83 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP John Bradley Sorenson sold 6,528 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $104.97, for a total value of $685,244.16. Following the sale, the executive vice president now owns 26,449 shares of the company’s stock, valued at $2,776,351.53. This trade represents a 19.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now directly owns 39,398 shares of the company’s stock, valued at $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 53,830 shares of company stock valued at $5,149,969. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BSX. Citigroup lifted their target price on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Canaccord Genuity Group lifted their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Stifel Nicolaus lifted their price objective 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 upped their price objective on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of 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. One analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $107.39.

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.