Cerity Partners LLC Sells 75,325 Shares of Boston Scientific Corporation $BSX

Cerity Partners LLC cut its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 5.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,226,179 shares of the medical equipment provider’s stock after selling 75,325 shares during the period. Cerity Partners LLC owned about 0.08% of Boston Scientific worth $119,712,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Crews Bank & Trust increased its position in Boston Scientific by 11.6% during the third quarter. Crews Bank & Trust now owns 1,061 shares of the medical equipment provider’s stock valued at $104,000 after acquiring an additional 110 shares during the last quarter. Kathmere Capital Management LLC grew its stake in shares of Boston Scientific by 3.3% during the 3rd quarter. Kathmere Capital Management LLC now owns 5,110 shares of the medical equipment provider’s stock valued at $499,000 after purchasing an additional 164 shares during the period. Spirepoint Private Client LLC increased its position in shares of Boston Scientific by 4.9% during the 3rd quarter. Spirepoint Private Client LLC now owns 86,080 shares of the medical equipment provider’s stock valued at $8,404,000 after purchasing an additional 4,053 shares during the last quarter. Gladstone Institutional Advisory LLC lifted its stake in shares of Boston Scientific by 39.5% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 51,884 shares of the medical equipment provider’s stock worth $5,065,000 after purchasing an additional 14,700 shares during the period. Finally, Community Trust & Investment Co. boosted its holdings in shares of Boston Scientific by 2.1% in the third quarter. Community Trust & Investment Co. now owns 155,140 shares of the medical equipment provider’s stock worth $15,146,000 after buying an additional 3,182 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $97.70 on Wednesday. The company has a market capitalization of $144.84 billion, a price-to-earnings ratio of 52.25, a PEG ratio of 1.69 and a beta of 0.67. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.47. The stock’s 50-day simple moving average is $97.72 and its 200-day simple moving average is $100.85. Boston Scientific Corporation has a 52 week low of $85.98 and a 52 week high of $109.50.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.04. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter last year, the company earned $0.63 EPS. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. 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. As a group, analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, Director Ellen M. Zane sold 12,891 shares of the stock in a transaction dated 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 represents a 34.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $101.55, for a total value of $1,758,135.15. Following the completion of the sale, the executive vice president directly owned 23,600 shares in the company, valued at $2,396,580. This trade represents a 42.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 93,095 shares of company stock worth $9,305,450. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on BSX. Canaccord Genuity Group reduced their target price on shares of Boston Scientific from $132.00 to $131.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. Wells Fargo & Company upped their price objective on Boston Scientific from $124.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Leerink Partners lifted 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, October 1st. Cowen reissued a “buy” rating on shares of Boston Scientific in a report on Thursday, December 11th. Finally, Truist Financial decreased their price objective on Boston Scientific from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $124.95.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.