Cinctive Capital Management LP Purchases New Shares in Boston Scientific Corporation $BSX

Key Points

• Cinctive Capital Management LP has purchased 103,559 shares of Boston Scientific Corporation, valuing the investment at approximately $10.4 million, making it the firm's 27th largest position.
• Boston Scientific reported better-than-expected quarterly earnings, with $0.75 earnings per share exceeding analysts' estimates of $0.72, and a revenue of $5.06 billion during the quarter, up 22.8% year-over-year.
• The stock has received a majority of positive ratings from analysts, with a consensus price target of $117.50, indicating strong confidence in its future performance.

Cinctive Capital Management LP purchased a new stake in Boston Scientific Corporation (NYSE:BSX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 103,559 shares of the medical equipment provider's stock, valued at approximately $10,447,000. Boston Scientific makes up about 0.8% of Cinctive Capital Management LP's holdings, making the stock its 27th biggest position.

Other institutional investors have also recently bought and sold shares of the company. Colonial Trust Co SC lifted its stake in Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 260 shares in the last quarter. Investment Management Corp VA ADV bought a new position in Boston Scientific in the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC bought a new position in Boston Scientific in the fourth quarter valued at approximately $26,000. 1248 Management LLC acquired a new stake in shares of Boston Scientific in the first quarter valued at approximately $26,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of Boston Scientific in the first quarter valued at approximately $27,000. Institutional investors own 89.07% of the company's stock.

Insider Activity at Boston Scientific

In other Boston Scientific 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 value of $5,231,500.00. Following the transaction, the executive vice president directly owned 178,342 shares in the company, valued at $18,659,923.46. The trade was a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward J. Ludwig sold 4,000 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $106.03, for a total transaction of $424,120.00. Following the completion of the transaction, the director owned 18,479 shares in the company, valued at approximately $1,959,328.37. This represents a 17.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,214 shares of company stock valued at $18,397,457 in the last ninety days. Company insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Robert W. Baird lifted their price objective on shares of Boston Scientific from $117.00 to $123.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Morgan Stanley lifted their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, May 16th. 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. Finally, Citigroup reiterated a "buy" rating and issued a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $117.79.

Boston Scientific Stock Up 0.9%

BSX traded up $0.92 during trading on Monday, reaching $108.14. 7,454,406 shares of the stock were exchanged, compared to its average volume of 7,464,308. The stock has a market cap of $160.23 billion, a P/E ratio of 64.37, a price-to-earnings-growth ratio of 2.58 and a beta of 0.65. Boston Scientific Corporation has a twelve month low of $80.64 and a twelve month high of $108.94. The stock's 50 day moving average price is $104.77 and its two-hundred day moving average price is $102.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the company earned $0.62 earnings per share. The firm's revenue for the quarter was up 22.8% on a year-over-year basis. Boston Scientific has set its Q3 2025 guidance at 0.700-0.720 EPS. Equities analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current year.

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.