Bank of Nova Scotia Raises Position in Boston Scientific Corporation $BSX

Bank of Nova Scotia boosted its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 106.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,025,519 shares of the medical equipment provider’s stock after buying an additional 1,559,605 shares during the period. Boston Scientific makes up about 0.7% of Bank of Nova Scotia’s holdings, making the stock its 24th largest holding. Bank of Nova Scotia owned 0.20% of Boston Scientific worth $324,971,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BSX. Sound Income Strategies LLC grew its holdings in shares of 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 purchasing an additional 120 shares in the last quarter. 1248 Management LLC bought a new stake in Boston Scientific during the first quarter valued at approximately $26,000. Kilter Group LLC purchased a new position in Boston Scientific in the 2nd quarter worth approximately $30,000. Princeton Global Asset Management LLC bought a new position in shares of Boston Scientific in the 2nd quarter worth $32,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised 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 valued at $37,000 after buying an additional 145 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BSX has been the subject of several research reports. UBS Group upped their target price on shares of Boston Scientific from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Oppenheimer upgraded Boston Scientific from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $118.00 to $125.00 in a report on Monday, September 8th. Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Canaccord Genuity Group restated a “buy” rating and issued a $132.00 target price on shares of Boston Scientific in a research report on Thursday, October 23rd. Finally, Evercore ISI reiterated an “outperform” rating on shares of Boston Scientific in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Buy” and an average 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 dated 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 sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $101.55, for a total value 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 represents a 42.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 143,095 shares of company stock valued at $14,228,950 in the last quarter. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $97.46 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.96. Boston Scientific Corporation has a one year low of $85.98 and a one year high of $109.50. The business’s 50 day simple moving average is $99.27 and its two-hundred day simple moving average is $102.02. The stock has a market capitalization of $144.48 billion, a P/E ratio of 52.12, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67.

Boston Scientific (NYSE:BSX) last released 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. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The business’s quarterly revenue 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. Analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current 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.