Bleakley Financial Group LLC lowered its holdings in Boston Scientific Corporation (NYSE:BSX – Free Report) by 51.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,694 shares of the medical equipment provider’s stock after selling 45,999 shares during the quarter. Bleakley Financial Group LLC’s holdings in Boston Scientific were worth $2,742,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. Outfitters Financial LLC increased its holdings in Boston Scientific by 0.5% in the fourth quarter. Outfitters Financial LLC now owns 24,027 shares of the medical equipment provider’s stock valued at $2,291,000 after buying an additional 110 shares in the last quarter. Natural Investments LLC grew its holdings in shares of Boston Scientific by 2.9% in the 4th quarter. Natural Investments LLC now owns 4,036 shares of the medical equipment provider’s stock worth $384,000 after acquiring an additional 112 shares during the period. Old Port Advisors increased its stake in Boston Scientific by 4.7% in the 4th quarter. Old Port Advisors now owns 2,558 shares of the medical equipment provider’s stock valued at $244,000 after purchasing an additional 115 shares in the last quarter. Thrive Wealth Management LLC increased its stake in Boston Scientific by 1.6% in the 4th quarter. Thrive Wealth Management LLC now owns 7,387 shares of the medical equipment provider’s stock valued at $704,000 after purchasing an additional 117 shares in the last quarter. Finally, Kathmere Capital Management LLC raised its holdings in Boston Scientific by 2.3% during the fourth quarter. Kathmere Capital Management LLC now owns 5,228 shares of the medical equipment provider’s stock worth $498,000 after purchasing an additional 118 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.
Boston Scientific Trading Up 1.0%
NYSE BSX opened at $43.08 on Thursday. The company has a market cap of $64.02 billion, a P/E ratio of 18.02, a P/E/G ratio of 0.82 and a beta of 0.58. Boston Scientific Corporation has a 12 month low of $42.20 and a 12 month high of $109.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22. The company has a 50-day moving average of $48.62 and a 200-day moving average of $66.39.
Boston Scientific declared that its board has authorized a stock repurchase plan on Monday, May 18th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical equipment provider to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Insider Buying and Selling at Boston Scientific
In related news, Director Cheryl Pegus acquired 1,770 shares of the stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $56.49 per share, with a total value of $99,987.30. Following the purchase, the director directly owned 1,770 shares of the company’s stock, valued at approximately $99,987.30. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward J. Ludwig acquired 3,580 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $56.68 per share, with a total value of $202,914.40. Following the completion of the acquisition, the director owned 25,359 shares in the company, valued at approximately $1,437,348.12. The trade was a 16.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 9,800 shares of company stock worth $554,012 in the last quarter. 0.34% of the stock is owned by insiders.
Analysts Set New Price Targets
BSX has been the topic of several research reports. Citigroup lowered their target price on Boston Scientific from $87.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. Jefferies Financial Group cut their price target on Boston Scientific from $100.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. BTIG Research reissued a “buy” rating and issued a $65.00 price objective on shares of Boston Scientific in a research note on Tuesday, June 16th. Wall Street Zen downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Barclays cut their target price on shares of Boston Scientific from $96.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $79.92.
More Boston Scientific News
Here are the key news stories impacting Boston Scientific this week:
- Positive Sentiment: Analysts still see meaningful upside in Boston Scientific despite near-term concerns, with one note highlighting a bullish rating and a price target that remains well above the current share price. Boston Scientific (BSX) Faces WATCHMAN Slowdown But Analysts Still See Upside
- Neutral Sentiment: Boston Scientific was mentioned in a broader large-cap stock roundup, but the article did not add any new company-specific catalyst. 1 Large-Cap Stock with Exciting Potential and 2 We Turn Down
- Negative Sentiment: Management commentary pointed to a slowdown in WATCHMAN, and Needham lowered its price target to $57 from $77, signaling reduced optimism about near-term growth. Boston Scientific (BSX) Faces WATCHMAN Slowdown But Analysts Still See Upside
- Negative Sentiment: The company recently initiated voluntary Class II recalls of CRE and CRE Pro Wireguided endoscopy devices worldwide due to potential sterile packaging breaches, increasing quality and regulatory risk. Are Boston Scientific’s (BSX) Sterile-Packaging Recalls Reframing the Narrative on Quality and Regulatory Risk?
- Negative Sentiment: Recent coverage also noted that Boston Scientific stock fell in the latest session despite broader market gains, reinforcing investor concerns about momentum and execution. Boston Scientific (BSX) Stock Drops Despite Market Gains: Important Facts to Note
Boston Scientific Profile
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.
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