Panagora Asset Management Inc. Has $71.74 Million Stock Position in Boston Scientific Corporation $BSX

Panagora Asset Management Inc. cut its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 39.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 667,889 shares of the medical equipment provider’s stock after selling 443,488 shares during the period. Panagora Asset Management Inc.’s holdings in Boston Scientific were worth $71,738,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Riverwater Partners LLC raised its position in Boston Scientific by 3.3% in the second quarter. Riverwater Partners LLC now owns 3,104 shares of the medical equipment provider’s stock valued at $333,000 after purchasing an additional 98 shares during the last quarter. IVC Wealth Advisors LLC grew its holdings in Boston Scientific by 4.9% during the 2nd quarter. IVC Wealth Advisors LLC now owns 2,199 shares of the medical equipment provider’s stock worth $236,000 after acquiring an additional 102 shares during the last quarter. Rise Advisors LLC increased its position in Boston Scientific by 13.9% in the 1st quarter. Rise Advisors LLC now owns 844 shares of the medical equipment provider’s stock valued at $85,000 after acquiring an additional 103 shares during the period. Sound View Wealth Advisors Group LLC raised its position in Boston Scientific by 3.9% during the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 2,738 shares of the medical equipment provider’s stock worth $294,000 after purchasing an additional 103 shares during the last quarter. Finally, Scotia Capital Inc. raised its position in shares of Boston Scientific by 0.7% during the second quarter. Scotia Capital Inc. now owns 15,093 shares of the medical equipment provider’s stock worth $1,621,000 after acquiring an additional 104 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Up 1.0%

NYSE BSX opened at $101.95 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. Boston Scientific Corporation has a 52 week low of $85.98 and a 52 week high of $109.50. The business has a 50 day moving average price of $99.17 and a 200-day moving average price of $102.27. The company has a market cap of $151.13 billion, a price-to-earnings ratio of 54.52, a P/E/G ratio of 2.02 and a beta of 0.58.

Boston Scientific (NYSE:BSX) last posted its quarterly 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. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate 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 was up 20.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 EPS. 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 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ellen M. Zane sold 12,891 shares of the stock in a transaction that occurred on 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 completion of the sale, the director directly owned 24,134 shares of the company’s stock, valued at $2,371,889.52. This 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 through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction that occurred on 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 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 position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 175,782 shares of company stock valued at $17,742,314. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BSX. Erste Group Bank cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Leerink Partners upped their price target on shares of Boston Scientific from $127.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Robert W. Baird lifted their price objective on Boston Scientific from $123.00 to $128.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. UBS Group raised their target price on Boston Scientific from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Finally, Barclays increased their price target on Boston Scientific from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Two 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. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $123.77.

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.