Boston Scientific Corporation $BSX Shares Purchased by Sumitomo Mitsui Financial Group Inc.

Key Points

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Sumitomo Mitsui Financial Group Inc. lifted its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 36.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 205,642 shares of the medical equipment provider's stock after purchasing an additional 54,832 shares during the quarter. Boston Scientific comprises about 0.4% of Sumitomo Mitsui Financial Group Inc.'s holdings, making the stock its 28th biggest holding. Sumitomo Mitsui Financial Group Inc.'s holdings in Boston Scientific were worth $20,745,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BSX. Colonial Trust Co SC grew its holdings in shares of 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 purchasing an additional 260 shares during the period. Investment Management Corp VA ADV purchased a new stake in shares of Boston Scientific in the fourth quarter valued at about $25,000. Sunbeam Capital Management LLC purchased a new stake in shares of Boston Scientific in the fourth quarter valued at about $26,000. Y.D. More Investments Ltd acquired a new position in Boston Scientific in the first quarter valued at about $27,000. Finally, Ameriflex Group Inc. acquired a new position in Boston Scientific in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analysts Set New Price Targets

BSX has been the topic of a number of recent analyst reports. Erste Group Bank raised shares of Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Barclays upped their target price on shares of Boston Scientific from $125.00 to $133.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. UBS Group upped their target price on shares of Boston Scientific from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $115.00 target price on shares of Boston Scientific in a research report on Wednesday, May 28th. Finally, Leerink Partners initiated coverage on shares of Boston Scientific in a research report on Monday, June 16th. They issued an "outperform" rating and a $118.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $117.50.

Insider Transactions at Boston Scientific

In related news, Director Edward J. Ludwig sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $106.03, for a total value of $424,120.00. Following the sale, the director owned 18,479 shares of the company's stock, valued at $1,959,328.37. This trade represents a 17.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yoshiaki Fujimori sold 2,901 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total transaction of $310,377.99. Following the completion of the sale, the director directly owned 2,081 shares in the company, valued at approximately $222,646.19. This trade represents a 58.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 345,029 shares of company stock valued at $35,976,603 over the last quarter. Insiders own 0.50% of the company's stock.

Boston Scientific Stock Up 0.7%

Shares of BSX traded up $0.7850 during mid-day trading on Friday, hitting $105.9950. 9,396,775 shares of the company's stock were exchanged, compared to its average volume of 6,145,860. The company has a market cap of $157.06 billion, a price-to-earnings ratio of 63.09, a P/E/G ratio of 2.53 and a beta of 0.66. Boston Scientific Corporation has a fifty-two week low of $78.53 and a fifty-two week high of $108.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37. The stock's 50-day moving average is $104.10 and its 200-day moving average is $102.16.

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

Boston Scientific 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.