Congress Asset Management Co. Decreases Position in Boston Scientific Corporation $BSX

Key Points

• Congress Asset Management Co. reduced its stake in Boston Scientific Corporation by 1.0%, holding 1,701,570 shares after selling 17,258 shares in the second quarter.
• Analysts have set new price targets for Boston Scientific, with recommendations ranging from "Buy" to "Strong Buy", and a consensus target price of $118.17.
• Boston Scientific reported earnings of $0.75 per share for the quarter, exceeding estimates, with revenue rising 22.8% year-over-year.

Congress Asset Management Co. trimmed its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,701,570 shares of the medical equipment provider's stock after selling 17,258 shares during the period. Boston Scientific comprises approximately 1.3% of Congress Asset Management Co.'s portfolio, making the stock its 16th largest position. Congress Asset Management Co. owned about 0.12% of Boston Scientific worth $182,766,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of BSX. GAMMA Investing LLC boosted its holdings in Boston Scientific by 11,720.3% during the 1st quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider's stock valued at $260,057,000 after acquiring an additional 2,556,078 shares during the period. Vanguard Group Inc. lifted its position in Boston Scientific by 1.3% in the first quarter. Vanguard Group Inc. now owns 134,588,729 shares of the medical equipment provider's stock valued at $13,577,311,000 after purchasing an additional 1,697,945 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Boston Scientific by 18.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,610,487 shares of the medical equipment provider's stock valued at $1,070,387,000 after purchasing an additional 1,664,108 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Boston Scientific by 161.9% in the first quarter. Assenagon Asset Management S.A. now owns 2,485,696 shares of the medical equipment provider's stock worth $250,757,000 after purchasing an additional 1,536,663 shares during the last quarter. Finally, Swedbank AB increased its stake in shares of Boston Scientific by 114.5% in the second quarter. Swedbank AB now owns 2,819,249 shares of the medical equipment provider's stock worth $302,816,000 after buying an additional 1,505,019 shares during the period. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on BSX. Raymond James Financial raised their price target on shares of Boston Scientific from $121.00 to $124.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 24th. Robert W. Baird raised their target price on Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Truist Financial upped their price target on Boston Scientific from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Needham & Company LLC reiterated a "buy" rating and issued a $121.00 price objective on shares of Boston Scientific in a research report on Friday, September 19th. Finally, Barclays upped their target price on Boston Scientific from $125.00 to $133.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $118.17.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 4,000 shares of Boston Scientific 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 completion of the transaction, the director owned 18,479 shares in the company, valued at approximately $1,959,328.37. The trade was a 17.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business's stock in a transaction 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 in the company, valued at $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 worth $18,397,457 over the last three months. Company insiders own 0.50% of the company's stock.

Boston Scientific Price Performance

BSX opened at $98.03 on Friday. 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 company has a market cap of $145.26 billion, a price-to-earnings ratio of 58.35, a price-to-earnings-growth ratio of 2.36 and a beta of 0.65. The stock has a fifty day simple moving average of $103.90 and a two-hundred day simple moving average of $102.06. Boston Scientific Corporation has a 12-month low of $80.64 and a 12-month high of $109.50.

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 for the quarter, topping 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 company's revenue was up 22.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. Boston Scientific has set its Q3 2025 guidance at 0.700-0.720 EPS. Research 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.

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