Kingsman Wealth Management Inc. Lowers Stake in Boston Scientific Corporation $BSX

Kingsman Wealth Management Inc. reduced its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 27.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 24,291 shares of the medical equipment provider’s stock after selling 9,142 shares during the period. Boston Scientific makes up 1.3% of Kingsman Wealth Management Inc.’s investment portfolio, making the stock its 15th biggest position. Kingsman Wealth Management Inc.’s holdings in Boston Scientific were worth $2,372,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in BSX. Sivia Capital Partners LLC boosted its holdings in shares of Boston Scientific by 9.9% in the 3rd quarter. Sivia Capital Partners LLC now owns 4,780 shares of the medical equipment provider’s stock worth $467,000 after purchasing an additional 432 shares in the last quarter. Weaver Capital Management LLC bought a new stake in Boston Scientific in the 3rd quarter worth approximately $263,000. Diversified Trust Co boosted its stake in Boston Scientific by 17.4% in the third quarter. Diversified Trust Co now owns 6,040 shares of the medical equipment provider’s stock worth $590,000 after buying an additional 896 shares in the last quarter. Simplify Asset Management Inc. grew its position in Boston Scientific by 13.9% during the third quarter. Simplify Asset Management Inc. now owns 8,087 shares of the medical equipment provider’s stock valued at $790,000 after acquiring an additional 984 shares during the last quarter. Finally, Mattson Financial Services LLC raised its stake in shares of Boston Scientific by 6.1% during the third quarter. Mattson Financial Services LLC now owns 23,086 shares of the medical equipment provider’s stock worth $2,254,000 after acquiring an additional 1,335 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 0.2%

BSX opened at $95.98 on Wednesday. Boston Scientific Corporation has a one year low of $85.98 and a one year high of $109.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.96. The business has a 50 day simple moving average of $98.36 and a two-hundred day simple moving average of $101.05. The firm has a market capitalization of $142.28 billion, a price-to-earnings ratio of 51.32, a PEG ratio of 1.93 and a beta of 0.67.

Boston Scientific (NYSE:BSX) last posted 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. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.97 billion. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The business’s revenue was up 20.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 earnings per share. 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 predict that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm’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 sale, the executive vice president directly owned 178,342 shares in the company, valued at $17,739,678.74. This trade represents a 21.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on 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 sale, the executive vice president directly owned 23,600 shares in the company, valued at approximately $2,396,580. The trade was a 42.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 93,095 shares of company stock worth $9,305,450. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on BSX shares. Cowen reaffirmed a “buy” rating on shares of Boston Scientific in a report on Thursday, December 11th. Royal Bank Of Canada lifted their price objective on Boston Scientific from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. UBS Group reissued a “buy” rating on shares of Boston Scientific in a research note on Wednesday, December 17th. Oppenheimer upgraded Boston Scientific from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $118.00 to $125.00 in a research report on Monday, September 8th. Finally, Wells Fargo & Company boosted their price objective on Boston Scientific from $124.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Two investment 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $124.85.

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.