Putney Financial Group LLC Reduces Holdings in Boston Scientific Corporation $BSX

Putney Financial Group LLC lowered its position in Boston Scientific Corporation (NYSE:BSX) by 28.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,614 shares of the medical equipment provider’s stock after selling 1,040 shares during the quarter. Putney Financial Group LLC’s holdings in Boston Scientific were worth $281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sound Income Strategies LLC boosted its holdings in Boston Scientific by 90.9% in the second quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. 1248 Management LLC acquired a new position in shares of Boston Scientific in the 1st quarter valued at approximately $26,000. Y.D. More Investments Ltd purchased a new position in shares of Boston Scientific during the 1st quarter valued at approximately $27,000. Princeton Global Asset Management LLC acquired a new stake in shares of Boston Scientific during the second quarter worth approximately $32,000. Finally, Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Boston Scientific by 72.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 344 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 145 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BSX. Raymond James Financial raised their price objective on shares of Boston Scientific from $121.00 to $124.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 24th. Canaccord Genuity Group reiterated a “buy” rating and issued a $132.00 price target on shares of Boston Scientific in a research note on Thursday, October 23rd. BTIG Research reissued a “buy” rating and issued a $132.00 price objective on shares of Boston Scientific in a report on Wednesday, October 22nd. UBS Group increased their target price on Boston Scientific from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $123.77.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $100.55 on Friday. The stock has a market capitalization of $148.98 billion, a P/E ratio of 53.77, a P/E/G ratio of 2.02 and a beta of 0.61. The firm’s 50-day moving average price is $100.87 and its two-hundred day moving average price is $102.25. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. Boston Scientific Corporation has a 52-week low of $83.38 and a 52-week high of $109.50.

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 analysts’ consensus estimates of $0.71 by $0.04. Boston Scientific had a return on equity of 19.74% and a net margin of 14.43%.The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.97 billion. During the same period last year, the business posted $0.63 earnings per share. The firm’s quarterly 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, sell-side analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Activity

In other news, Director Ellen M. Zane sold 9,990 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $101.13, for a total transaction of $1,010,288.70. Following the completion of the transaction, the director directly owned 27,035 shares in the company, valued at approximately $2,734,049.55. The trade was a 26.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 178,342 shares in the company, valued at approximately $17,561,336.74. This represents a 21.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 112,891 shares of company stock valued at $11,501,887. 0.50% of the stock is owned by insiders.

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.