Wellspring Financial Advisors LLC Acquires New Position in Boston Scientific Corporation $BSX

Wellspring Financial Advisors LLC bought a new position in Boston Scientific Corporation (NYSE:BSX) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,808 shares of the medical equipment provider’s stock, valued at approximately $302,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Boston Scientific by 15.4% in the second quarter. GAMMA Investing LLC now owns 29,486 shares of the medical equipment provider’s stock worth $3,167,000 after buying an additional 3,932 shares during the last quarter. NS Partners Ltd boosted its holdings in Boston Scientific by 1.6% in the first quarter. NS Partners Ltd now owns 368,189 shares of the medical equipment provider’s stock valued at $37,143,000 after purchasing an additional 5,704 shares during the last quarter. MRA Advisory Group purchased a new stake in shares of Boston Scientific in the second quarter worth about $273,000. Bank of New Hampshire grew its stake in shares of Boston Scientific by 552.0% during the 2nd quarter. Bank of New Hampshire now owns 19,724 shares of the medical equipment provider’s stock worth $2,119,000 after purchasing an additional 16,699 shares during the period. Finally, New England Research & Management Inc. acquired a new stake in Boston Scientific during the second quarter valued at $1,133,000. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $99.47, for a total value of $4,973,500.00. Following the completion of the transaction, the executive vice president 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 through the SEC website. Also, Director Ellen M. Zane sold 12,891 shares of Boston Scientific stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the transaction, the director owned 24,134 shares of the company’s stock, valued at approximately $2,371,889.52. The trade was a 34.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 125,782 shares of company stock valued at $12,470,814. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays boosted their price target on shares of Boston Scientific from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Canaccord Genuity Group reiterated a “buy” rating and set a $132.00 price objective on shares of Boston Scientific in a research report on Thursday, October 23rd. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Needham & Company LLC reiterated a “buy” rating and set a $121.00 price target on shares of Boston Scientific in a report on Friday, October 17th. Finally, Wells Fargo & Company boosted their price target on shares of Boston Scientific from $124.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. 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 company’s stock. According to MarketBeat, Boston Scientific has an average rating of “Buy” and an average price target of $123.77.

Boston Scientific Stock Down 0.6%

Boston Scientific stock opened at $100.94 on Tuesday. Boston Scientific Corporation has a twelve month low of $85.98 and a twelve month high of $109.50. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average of $99.25 and a two-hundred day moving average of $102.24. The stock has a market capitalization of $149.63 billion, a price-to-earnings ratio of 53.98, a PEG ratio of 2.02 and a beta of 0.58.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. Boston Scientific had a net margin of 14.43% and a return on equity of 19.74%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter last year, the firm earned $0.63 earnings per share. The firm’s revenue was up 20.3% compared to the same quarter last year. 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, research analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Boston Scientific Company 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.