OVERSEA CHINESE BANKING Corp Ltd Cuts Stock Holdings in Boston Scientific Corporation $BSX

OVERSEA CHINESE BANKING Corp Ltd lowered its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 60.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,412 shares of the medical equipment provider’s stock after selling 3,661 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Boston Scientific were worth $259,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BSX. 1248 Management LLC purchased a new stake in Boston Scientific in the 1st quarter worth about $26,000. Y.D. More Investments Ltd bought a new position in Boston Scientific during the first quarter worth about $27,000. Sound Income Strategies LLC increased its stake in shares of Boston Scientific by 90.9% in 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 in the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of Boston Scientific in the second quarter valued at approximately $32,000. Finally, Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Boston Scientific during the 2nd quarter valued at approximately $37,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of recent research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $124.00 price objective on shares of Boston Scientific in a research note on Wednesday, October 22nd. Canaccord Genuity Group reiterated a “buy” rating and issued a $132.00 price target on shares of Boston Scientific in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Boston Scientific in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price objective on Boston Scientific from $124.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Finally, UBS Group upped their price target on Boston Scientific from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Buy” and an average price target of $123.77.

Boston Scientific Stock Down 1.4%

Shares of NYSE BSX opened at $101.00 on Wednesday. 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 business has a 50-day moving average of $101.07 and a 200-day moving average of $102.22. The firm has a market capitalization of $149.66 billion, a price-to-earnings ratio of 54.01, a PEG ratio of 2.06 and a beta of 0.61. Boston Scientific Corporation has a 12 month low of $80.64 and a 12 month high of $109.50.

Boston Scientific (NYSE:BSX) last announced 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. Boston Scientific had a net margin of 14.43% and a return on equity of 19.74%. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same period in the previous year, the business posted $0.63 earnings per share. 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 fiscal year.

Insider Transactions at Boston Scientific

In related news, Director Ellen M. Zane sold 2,901 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $102.24, for a total value of $296,598.24. Following the completion of the transaction, the director directly owned 24,134 shares in the company, valued at approximately $2,467,460.16. The trade was a 10.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $98.47, for a total value of $4,923,500.00. Following the sale, the executive vice president owned 178,342 shares in the company, valued at $17,561,336.74. The trade was a 21.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 180,204 shares of company stock valued at $18,544,846. Insiders own 0.50% of the company’s stock.

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.