Allworth Financial LP Acquires 26,623 Shares of Boston Scientific Corporation $BSX

Allworth Financial LP raised its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 215.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,961 shares of the medical equipment provider’s stock after buying an additional 26,623 shares during the quarter. Allworth Financial LP’s holdings in Boston Scientific were worth $4,185,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BSX. Sound Income Strategies LLC increased its holdings in Boston Scientific by 90.9% in the 2nd quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 120 shares in the last quarter. 1248 Management LLC purchased a new position in Boston Scientific during the first quarter valued at $26,000. Y.D. More Investments Ltd bought a new stake in Boston Scientific during the 1st quarter worth approximately $27,000. Princeton Global Asset Management LLC purchased a new position in Boston Scientific during the second quarter valued at approximately $32,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Boston Scientific by 72.9% in the second 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 during the period. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on BSX shares. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Needham & Company LLC reiterated a “buy” rating and set a $121.00 price objective on shares of Boston Scientific in a research report on Friday, October 17th. Evercore ISI restated an “outperform” rating on shares of Boston Scientific in a report on Wednesday, October 22nd. 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 note on Wednesday, October 1st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $124.00 price objective on shares of Boston Scientific in a research report 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $123.77.

Insiders Place Their Bets

In related news, Director Ellen M. Zane sold 12,891 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the completion of the transaction, the director owned 24,134 shares of the company’s stock, valued at $2,371,889.52. This trade represents a 34.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $4,973,500.00. Following the completion of the transaction, the executive vice president directly owned 178,342 shares of the company’s stock, valued at approximately $17,739,678.74. This trade represents a 21.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 175,782 shares of company stock worth $17,742,314 in the last quarter. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

BSX opened at $102.53 on Wednesday. Boston Scientific Corporation has a 52-week low of $85.98 and a 52-week high of $109.50. The firm’s 50-day moving average price is $99.92 and its 200-day moving average price is $102.53. 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 company has a market cap of $151.99 billion, a P/E ratio of 54.83, a price-to-earnings-growth ratio of 2.02 and a beta of 0.58.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.97 billion. Boston Scientific had a net margin of 14.43% and a return on equity of 19.74%. The business’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same period in the previous year, the company earned $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. As a group, equities analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

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.