Engineers Gate Manager LP Lowers Stock Holdings in Boston Scientific Corporation $BSX

Engineers Gate Manager LP cut its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 13.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,984 shares of the medical equipment provider’s stock after selling 29,586 shares during the period. Engineers Gate Manager LP’s holdings in Boston Scientific were worth $20,728,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Brighton Jones LLC lifted 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 worth $2,445,000 after buying an additional 226 shares in the last quarter. Meridian Wealth Management LLC purchased a new stake in shares of Boston Scientific during the first quarter worth $213,000. Boston Partners raised its stake in shares of Boston Scientific by 0.9% in the first quarter. Boston Partners now owns 13,235 shares of the medical equipment provider’s stock valued at $1,335,000 after acquiring an additional 116 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its holdings in Boston Scientific by 83.2% in the first quarter. Vestmark Advisory Solutions Inc. now owns 78,657 shares of the medical equipment provider’s stock valued at $7,935,000 after purchasing an additional 35,721 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its stake in Boston Scientific by 78.1% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 35,066 shares of the medical equipment provider’s stock worth $3,537,000 after purchasing an additional 15,375 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BSX shares. Truist Financial lifted their price objective on Boston Scientific from $129.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Barclays raised their target price on shares of Boston Scientific from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Robert W. Baird boosted their price target on shares of Boston Scientific from $123.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Needham & Company LLC reissued a “buy” rating and issued a $121.00 price objective on shares of Boston Scientific in a research report on Friday, October 17th. Finally, Evercore ISI reiterated an “outperform” rating on shares of Boston Scientific in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Boston Scientific currently has a consensus rating of “Buy” and a consensus target price of $124.43.

Boston Scientific Stock Up 0.9%

Shares of NYSE:BSX opened at $92.58 on Friday. The firm has a 50 day simple moving average of $98.85 and a 200-day simple moving average of $101.64. Boston Scientific Corporation has a twelve month low of $85.98 and a twelve month high of $109.50. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $137.24 billion, a PE ratio of 49.51, a P/E/G ratio of 1.85 and a beta of 0.67.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.71 by $0.04. Boston Scientific had a net margin of 14.43% and a return on equity of 19.46%. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.97 billion. During the same period last year, the business earned $0.63 EPS. Boston Scientific’s revenue for the quarter was up 20.3% compared to the same quarter last year. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS and its Q4 2025 guidance at 0.770-0.790 EPS. On average, equities analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insider Activity

In other news, Director Ellen M. Zane sold 12,891 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $98.28, for a total value of $1,266,927.48. Following the completion of the sale, the director directly owned 24,134 shares of the company’s stock, valued at approximately $2,371,889.52. This represents a 34.82% 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 this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the transaction, the executive vice president owned 23,600 shares in the company, valued at approximately $2,396,580. This trade represents a 42.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 143,095 shares of company stock valued at $14,228,950. Insiders own 0.50% of the company’s stock.

About Boston Scientific

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.