Forum Financial Management LP Decreases Stake in Boston Scientific Corporation $BSX

Forum Financial Management LP reduced its position in shares of Boston Scientific Corporation (NYSE:BSX) by 6.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 12,562 shares of the medical equipment provider’s stock after selling 886 shares during the quarter. Forum Financial Management LP’s holdings in Boston Scientific were worth $1,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BSX. 1248 Management LLC acquired a new stake in Boston Scientific during the first quarter worth about $26,000. Y.D. More Investments Ltd acquired a new stake in Boston Scientific during the first quarter worth about $27,000. Sound Income Strategies LLC increased its position in Boston Scientific by 90.9% during the second quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 120 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in Boston Scientific during the second quarter worth about $32,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in Boston Scientific during the second quarter worth about $37,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Up 3.8%

BSX stock opened at $103.66 on Thursday. The company has a fifty day moving average price of $101.22 and a 200 day moving average price of $101.85. Boston Scientific Corporation has a 12 month low of $80.64 and a 12 month high of $109.50. The company has a market cap of $153.60 billion, a price-to-earnings ratio of 61.70, a price-to-earnings-growth ratio of 2.40 and a beta of 0.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 0.82.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.71 by $0.04. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. Boston Scientific’s revenue for the quarter was up 20.3% on a year-over-year basis. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS. Q4 2025 guidance at 0.770-0.790 EPS. Sell-side analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Activity

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the company’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $104.63, for a total transaction of $5,231,500.00. Following the transaction, the executive vice president directly owned 178,342 shares of the company’s stock, valued at $18,659,923.46. This represents a 21.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the transaction, the executive vice president directly owned 23,600 shares in the company, valued at approximately $2,469,268. This trade represents a 42.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 174,214 shares of company stock worth $17,972,457 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Oppenheimer upgraded shares of Boston Scientific from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $118.00 to $125.00 in a research report on Monday, September 8th. UBS Group lifted their price objective on shares of Boston Scientific from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Evercore ISI restated an “outperform” rating on shares of Boston Scientific in a report on Wednesday. The Goldman Sachs Group restated a “buy” rating and issued a $124.00 price objective on shares of Boston Scientific in a report on Wednesday. Finally, Barclays lifted their price objective on shares of Boston Scientific from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $121.71.

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.