Zweig DiMenna Associates LLC Buys 32,700 Shares of Boston Scientific Corporation $BSX

Zweig DiMenna Associates LLC lifted its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 26.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 155,700 shares of the medical equipment provider’s stock after acquiring an additional 32,700 shares during the period. Boston Scientific makes up 1.6% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 17th biggest position. Zweig DiMenna Associates LLC’s holdings in Boston Scientific were worth $16,724,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC increased its position in shares of Boston Scientific by 90.9% during the 2nd quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. 1248 Management LLC purchased a new stake in Boston Scientific in the first quarter worth approximately $26,000. Y.D. More Investments Ltd purchased a new stake in Boston Scientific in the first quarter worth approximately $27,000. Princeton Global Asset Management LLC purchased a new stake in Boston Scientific in the second quarter worth approximately $32,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in 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 buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other news, Director Ellen M. Zane sold 9,990 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $101.13, for a total transaction of $1,010,288.70. Following the transaction, the director directly owned 27,035 shares of the company’s stock, valued at approximately $2,734,049.55. The trade was a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $98.47, for a total transaction of $4,923,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares in the company, valued at approximately $17,561,336.74. This trade represents a 21.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 112,891 shares of company stock worth $11,501,887 over the last three months. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $100.81 on Friday. The firm has a market cap of $149.37 billion, a PE ratio of 53.91, a price-to-earnings-growth ratio of 2.02 and a beta of 0.61. Boston Scientific Corporation has a 12-month low of $83.38 and a 12-month 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 company’s fifty day simple moving average is $100.76 and its two-hundred day simple moving average is $102.35.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The company had revenue of $5.07 billion during 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%. Boston Scientific’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the prior year, the business 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. As a group, equities analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BSX shares. Truist Financial boosted their price objective on shares of Boston Scientific from $129.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. UBS Group lifted 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. Needham & Company LLC reiterated a “buy” rating and issued a $121.00 target price on shares of Boston Scientific in a research report on Friday, October 17th. Robert W. Baird raised their price objective 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, Leerink Partners raised their price objective on Boston Scientific from $127.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $123.77.

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.