Atle Fund Management AB Reduces Position in Boston Scientific Corporation $BSX

Key Points

• Atle Fund Management AB reduced its stake in Boston Scientific by 4.6%, selling 6,088 shares, which now constitute about 5.8% of its total investment portfolio.
• Insider activity saw EVP Arthur C. Butcher and EVP Joseph Michael Fitzgerald sell significant shares, decreasing their ownerships by 42.32% and 21.90%, respectively.
• Boston Scientific reported a 22.8% year-over-year revenue increase in its last quarterly earnings, exceeding analyst expectations with earnings of $0.75 per share.

Atle Fund Management AB reduced its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,185 shares of the medical equipment provider's stock after selling 6,088 shares during the period. Boston Scientific comprises about 5.8% of Atle Fund Management AB's portfolio, making the stock its 3rd biggest holding. Atle Fund Management AB's holdings in Boston Scientific were worth $13,554,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BSX. Brighton Jones LLC increased its stake in Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock valued at $2,445,000 after purchasing an additional 226 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Boston Scientific by 40.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock worth $6,529,000 after purchasing an additional 21,173 shares during the period. State of Wyoming lifted its stake in Boston Scientific by 119.5% during the fourth quarter. State of Wyoming now owns 2,660 shares of the medical equipment provider's stock valued at $238,000 after buying an additional 1,448 shares in the last quarter. Waverly Advisors LLC increased its holdings in shares of Boston Scientific by 24.2% in the 4th quarter. Waverly Advisors LLC now owns 11,174 shares of the medical equipment provider's stock valued at $998,000 after purchasing an additional 2,179 shares during the period. Finally, Novem Group acquired a new position in Boston Scientific during the fourth quarter valued at approximately $220,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Buying and Selling

In other Boston Scientific news, Director Yoshiaki Fujimori sold 2,901 shares of Boston Scientific stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total value of $310,377.99. Following the transaction, the director owned 2,081 shares in the company, valued at $222,646.19. The trade was a 58.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $104.63, for a total value of $1,811,459.19. Following the sale, the executive vice president owned 23,600 shares of the company's stock, valued at approximately $2,469,268. This represents a 42.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,214 shares of company stock worth $18,397,457 over the last three months. Company insiders own 0.50% of the company's stock.

Boston Scientific Stock Performance

Shares of Boston Scientific stock traded down $0.39 during trading hours on Friday, reaching $97.84. The company's stock had a trading volume of 16,833,754 shares, compared to its average volume of 8,405,870. The company's 50 day simple moving average is $104.40 and its 200 day simple moving average is $102.10. The stock has a market cap of $144.97 billion, a P/E ratio of 58.24, a price-to-earnings-growth ratio of 2.36 and a beta of 0.65. 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 Corporation has a one year low of $80.64 and a one year high of $109.50.

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

Analysts Set New Price Targets

BSX has been the subject of a number of research reports. Leerink Partners began coverage on Boston Scientific in a research note on Monday, June 16th. They issued an "outperform" rating and a $118.00 target price for the company. Wells Fargo & Company raised their price objective on Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Jefferies Financial Group reiterated a "hold" rating on shares of Boston Scientific in a report on Monday, July 21st. Leerink Partnrs raised Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Finally, Oppenheimer raised Boston Scientific from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $118.00 to $125.00 in a research report on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $118.04.

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.