Clark Capital Management Group Inc. Has $1.14 Million Stock Position in Boston Scientific Corporation $BSX

Key Points

• Clark Capital Management Group Inc. increased its stake in Boston Scientific Corporation by 144.3%, owning 11,333 shares worth approximately $1.14 million by the end of the last quarter.
• Boston Scientific reported earnings of $0.75 per share for the last quarter, exceeding analysts' expectations and achieving a year-over-year revenue growth of 22.8%.
• Analysts have given Boston Scientific an average rating of "Buy", with the average target price set at $117.50 following multiple recent upgrades.

Clark Capital Management Group Inc. raised its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 144.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,333 shares of the medical equipment provider's stock after purchasing an additional 6,694 shares during the period. Clark Capital Management Group Inc.'s holdings in Boston Scientific were worth $1,143,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BSX. Colonial Trust Co SC grew its stake in shares of Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after buying an additional 260 shares during the last quarter. Investment Management Corp VA ADV bought a new stake in shares of Boston Scientific during the fourth quarter worth $25,000. Sunbeam Capital Management LLC bought a new stake in shares of Boston Scientific during the fourth quarter worth $26,000. 1248 Management LLC bought a new stake in shares of Boston Scientific during the first quarter worth $26,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of Boston Scientific during the first quarter worth $27,000. Institutional investors own 89.07% of the company's stock.

Insider Activity

In related news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business'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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the completion of the transaction, the executive vice president owned 23,600 shares in the company, valued at approximately $2,469,268. The trade was a 42.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 174,214 shares of company stock worth $18,397,457 in the last three months. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BSX. Raymond James Financial boosted their target price on shares of Boston Scientific from $121.00 to $124.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 24th. Wells Fargo & Company boosted their target price on shares of Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Barclays boosted their price objective on shares of Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Truist Financial boosted their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Leerink Partnrs raised shares of Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $117.79.

Boston Scientific Trading Up 0.9%

BSX stock traded up $0.92 during midday trading on Monday, hitting $108.14. The stock had a trading volume of 7,454,396 shares, compared to its average volume of 5,736,611. The firm 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. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. Boston Scientific Corporation has a 1-year low of $80.64 and a 1-year high of $108.94. The business has a fifty day moving average price of $104.78 and a two-hundred day moving average price of $102.18.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. Boston Scientific's revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter in the previous year, the business 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 predict 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.