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Truist Financial Corp cut its stake in Boston Scientific Corporation (NYSE:BSX – Free Report) by 7.3% in the second quarter, Holdings Channel reports. The institutional investor owned 229,563 shares of the medical equipment provider’s stock after selling 18,116 shares during the period. Truist Financial Corp’s holdings in Boston Scientific were worth $24,657,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in Boston Scientific by 0.8% during the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock valued at $2,445,000 after purchasing an additional 226 shares during the last quarter. Fermata Advisors LLC purchased a new position in shares of Boston Scientific during the first quarter valued at approximately $287,000. Breakwater Capital Group lifted its stake in shares of Boston Scientific by 2.9% during the 1st quarter. Breakwater Capital Group now owns 7,887 shares of the medical equipment provider’s stock worth $796,000 after acquiring an additional 221 shares during the last quarter. Foster Group Inc. bought a new stake in shares of Boston Scientific during the 1st quarter worth approximately $287,000. Finally, Generali Investments Management Co LLC lifted its stake in shares of Boston Scientific by 14.4% during the 1st quarter. Generali Investments Management Co LLC now owns 30,912 shares of the medical equipment provider’s stock worth $3,118,000 after acquiring an additional 3,886 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently commented on BSX. Leerink Partnrs upgraded shares of Boston Scientific to a “strong-buy” rating in a report on Monday, June 16th. Jefferies Financial Group reiterated a “hold” rating on shares of Boston Scientific in a report on Monday, July 21st. Robert W. Baird upped their target price on Boston Scientific from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday. Canaccord Genuity Group upped their target price on Boston Scientific from $131.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Leerink Partners upped their target price on Boston Scientific from $127.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Buy” and a consensus target price of $120.79.
Insider Buying and Selling at Boston Scientific
In other news, Director Edward J. Ludwig sold 4,000 shares of the company’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $106.03, for a total transaction of $424,120.00. Following the sale, the director owned 18,479 shares of the company’s stock, valued at approximately $1,959,328.37. This represents a 17.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $98.47, for a total value of $4,923,500.00. Following the completion of the transaction, the executive vice president owned 178,342 shares of the company’s stock, valued at $17,561,336.74. The trade was a 21.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 174,214 shares of company stock valued at $17,972,457 in the last quarter. Corporate insiders own 0.50% of the company’s stock.
Boston Scientific Stock Up 1.1%
BSX stock opened at $97.30 on Friday. The stock has a market capitalization of $144.17 billion, a P/E ratio of 57.91, a P/E/G ratio of 2.32 and a beta of 0.61. The firm has a 50-day simple moving average of $102.93 and a 200-day simple moving average of $102.05. Boston Scientific Corporation has a 52 week low of $80.64 and a 52 week high of $109.50. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.
Boston Scientific (NYSE:BSX – Get Free Report) last released its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the company posted $0.62 EPS. The business’s revenue was up 22.8% on a year-over-year basis. Boston Scientific has set its Q3 2025 guidance at 0.700-0.720 EPS. Equities analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share 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.
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