Channel Wealth LLC Makes New Investment in Boston Scientific Corporation $BSX

Key Points

• Channel Wealth LLC has initiated a new investment in Boston Scientific Corporation, acquiring 16,730 shares valued at approximately $1.8 million.
• Multiple analysts have raised their price targets for Boston Scientific, with Wells Fargo setting a new target of $124 and rating the stock as "overweight."
• Insider selling at Boston Scientific has been notable, with directors Yoshiaki Fujimori and Edward J. Ludwig selling a combined total of over $734,000 in shares recently.

Channel Wealth LLC bought a new stake in Boston Scientific Corporation (NYSE:BSX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,730 shares of the medical equipment provider's stock, valued at approximately $1,797,000.

A number of other large investors have also recently added to or reduced their stakes in BSX. 1248 Management LLC acquired a new stake in shares of Boston Scientific during the 1st quarter worth about $26,000. Y.D. More Investments Ltd acquired a new stake in Boston Scientific in the 1st quarter worth about $27,000. Investment Management Corp VA ADV acquired a new stake in Boston Scientific in the 4th quarter worth about $25,000. Sunbeam Capital Management LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at approximately $26,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Boston Scientific in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BSX. Jefferies Financial Group reiterated a "hold" rating on shares of Boston Scientific in a research report on Monday, July 21st. Barclays upped their price objective on shares of Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Needham & Company LLC reiterated a "buy" rating and set a $121.00 price objective on shares of Boston Scientific in a research report on Thursday, September 11th. Wells Fargo & Company upped their price objective on shares of Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Raymond James Financial upped their price objective on shares of Boston Scientific from $121.00 to $124.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Boston Scientific currently has an average rating of "Buy" and an average target price of $118.04.

Insider Activity at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $104.63, for a total transaction of $5,231,500.00. Following the transaction, the executive vice president directly owned 178,342 shares of the company's stock, valued at $18,659,923.46. This represents a 21.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 4,000 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $106.03, for a total transaction of $424,120.00. Following the transaction, the director directly 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 sold 174,214 shares of company stock valued at $18,397,457 in the last ninety days. Insiders own 0.50% of the company's stock.

Boston Scientific Trading Down 0.2%

Shares of NYSE:BSX traded down $0.21 during trading on Thursday, reaching $98.29. The stock had a trading volume of 13,867,035 shares, compared to its average volume of 7,637,007. The firm's fifty day moving average is $104.51 and its 200 day moving average 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 Corporation has a 52 week low of $80.64 and a 52 week high of $109.50. The stock has a market cap of $145.64 billion, a price-to-earnings ratio of 58.51, a P/E/G ratio of 2.37 and a beta of 0.65.

Boston Scientific (NYSE:BSX - Get Free Report) last posted 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. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the firm posted $0.62 EPS. The company's quarterly revenue 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, equities analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current fiscal 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.