Gateway Investment Advisers LLC Sells 23,550 Shares of Boston Scientific Corporation $BSX

Key Points

• Gateway Investment Advisers LLC reduced its holding in Boston Scientific Corporation by 3.9%, selling 23,550 shares, and now owns 580,313 shares valued at approximately $62.3 million.
• Boston Scientific reported a 22.8% increase in revenue year-over-year, achieving $5.06 billion for the quarter, with earnings per share of $0.75 exceeding market expectations.
• Analysts maintain a strong outlook on Boston Scientific, with a consensus rating of "Buy" and an average target price of $118.04.

Gateway Investment Advisers LLC cut its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 3.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 580,313 shares of the medical equipment provider's stock after selling 23,550 shares during the quarter. Boston Scientific comprises about 0.7% of Gateway Investment Advisers LLC's portfolio, making the stock its 28th biggest holding. Gateway Investment Advisers LLC's holdings in Boston Scientific were worth $62,331,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Baron Wealth Management LLC raised its holdings in Boston Scientific by 4.4% in the 2nd quarter. Baron Wealth Management LLC now owns 3,647 shares of the medical equipment provider's stock valued at $392,000 after acquiring an additional 154 shares in the last quarter. Aaron Wealth Advisors LLC raised its holdings in Boston Scientific by 3.2% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 11,100 shares of the medical equipment provider's stock valued at $1,192,000 after acquiring an additional 349 shares in the last quarter. Thrive Wealth Management LLC acquired a new position in Boston Scientific in the 2nd quarter valued at $787,000. New England Research & Management Inc. acquired a new position in Boston Scientific in the 2nd quarter valued at $1,133,000. Finally, Bank of New Hampshire raised its holdings in Boston Scientific by 552.0% in the 2nd quarter. Bank of New Hampshire now owns 19,724 shares of the medical equipment provider's stock valued at $2,119,000 after acquiring an additional 16,699 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Boston Scientific in a report on Thursday, July 24th. Oppenheimer raised Boston Scientific from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $118.00 to $125.00 in a report on Monday, September 8th. Robert W. Baird boosted their price target on Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. UBS Group boosted their price target on Boston Scientific from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Needham & Company LLC reissued a "buy" rating and set a $121.00 price target on shares of Boston Scientific in a report on Friday. 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 stock. Based on data from MarketBeat, Boston Scientific has an average rating of "Buy" and an average target price of $118.04.

Insider Transactions at Boston Scientific

In other news, Director Edward J. Ludwig sold 4,000 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $106.03, for a total value of $424,120.00. Following the completion of the sale, the director directly owned 18,479 shares of the company's stock, valued at $1,959,328.37. This represents a 17.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $104.63, for a total value of $5,231,500.00. Following the completion of the sale, the executive vice president directly owned 178,342 shares of the company's stock, valued at approximately $18,659,923.46. This trade represents a 21.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 174,214 shares of company stock valued at $18,397,457 in the last 90 days. Corporate insiders own 0.50% of the company's stock.

Boston Scientific Stock Down 0.4%

BSX stock traded down $0.39 during trading on Friday, reaching $97.84. 16,833,754 shares of the stock were exchanged, compared to its average volume of 8,034,038. The firm's 50 day moving average is $104.40 and its 200 day moving average is $102.09. Boston Scientific Corporation has a twelve month low of $80.64 and a twelve month high of $109.50. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. The firm 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.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly 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 return on equity of 19.21% and a net margin of 13.55%.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 prior year, the business earned $0.62 EPS. 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. As a group, research analysts forecast 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.