Sierra Summit Advisors LLC Has $223,000 Holdings in Boston Scientific Corporation $BSX

Sierra Summit Advisors LLC decreased its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 97.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,075 shares of the medical equipment provider’s stock after selling 84,985 shares during the period. Sierra Summit Advisors LLC’s holdings in Boston Scientific were worth $223,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sound Income Strategies LLC boosted its stake in Boston Scientific by 90.9% during the second quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 120 shares in the last quarter. 1248 Management LLC bought a new stake in Boston Scientific in the first quarter valued at $26,000. Y.D. More Investments Ltd acquired a new position in shares of Boston Scientific during the first quarter valued at about $27,000. Princeton Global Asset Management LLC bought a new position in shares of Boston Scientific during the 2nd quarter worth about $32,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Boston Scientific by 72.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 344 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 145 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the transaction, the executive vice president directly owned 178,342 shares in the company, valued at approximately $17,739,678.74. The trade was a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ellen M. Zane sold 12,891 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $98.28, for a total transaction 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 $2,371,889.52. The trade was a 34.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 175,782 shares of company stock valued at $17,742,314. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Robert W. Baird boosted 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, October 1st. Oppenheimer raised Boston Scientific from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $118.00 to $125.00 in a research note on Monday, September 8th. Truist Financial upped their target price on Boston Scientific from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Wells Fargo & Company increased their target price on Boston Scientific from $124.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Boston Scientific in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Boston Scientific currently has a consensus rating of “Buy” and a consensus target price of $123.77.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $96.77 on Monday. Boston Scientific Corporation has a 52 week low of $85.98 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. The business has a 50 day moving average price of $98.97 and a 200-day moving average price of $102.35. The company has a market cap of $143.46 billion, a PE ratio of 51.75, a price-to-earnings-growth ratio of 2.02 and a beta of 0.58.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.04. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.97 billion. Boston Scientific had a return on equity of 19.74% and a net margin of 14.43%.Boston Scientific’s revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 earnings per share. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS. Q4 2025 guidance at 0.770-0.790 EPS. Equities analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

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.