Sumitomo Mitsui Financial Group Inc. Raises Holdings in Boston Scientific Corporation $BSX

Sumitomo Mitsui Financial Group Inc. grew its position in shares of Boston Scientific Corporation (NYSE:BSX) by 14.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 235,481 shares of the medical equipment provider’s stock after purchasing an additional 29,839 shares during the period. Boston Scientific makes up about 0.4% of Sumitomo Mitsui Financial Group Inc.’s investment portfolio, making the stock its 28th largest position. Sumitomo Mitsui Financial Group Inc.’s holdings in Boston Scientific were worth $25,293,000 at the end of the most recent reporting period.

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

Insider Transactions at Boston Scientific

In other Boston Scientific news, Director Ellen M. Zane sold 12,891 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $98.28, for a total value of $1,266,927.48. Following the sale, the director owned 24,134 shares in the company, valued at $2,371,889.52. This represents a 34.82% decrease 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, 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 directly owned 178,342 shares of the company’s stock, valued at approximately $17,561,336.74. The trade was a 21.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 175,782 shares of company stock valued at $17,742,314. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Down 0.2%

NYSE:BSX opened at $101.14 on Thursday. Boston Scientific Corporation has a twelve month low of $85.98 and a twelve month high of $109.50. The firm has a market capitalization of $149.93 billion, a price-to-earnings ratio of 54.08, a price-to-earnings-growth ratio of 2.02 and a beta of 0.58. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average price is $99.04 and its two-hundred day moving average price is $102.29.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.04. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.97 billion. Boston Scientific had a net margin of 14.43% and a return on equity of 19.74%. The firm’s revenue was up 20.3% on a year-over-year basis. During the same period last year, the business earned $0.63 earnings per share. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS. Q4 2025 guidance at 0.770-0.790 EPS. Equities research analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

BSX has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price target on shares of Boston Scientific from $123.00 to $128.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Morgan Stanley lifted their target price on Boston Scientific from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Canaccord Genuity Group reissued a “buy” rating and issued a $132.00 target price on shares of Boston Scientific in a research note on Thursday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $121.00 price target on shares of Boston Scientific in a research report on Friday, October 17th. Finally, Erste Group Bank cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $123.77.

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.