Corebridge Financial Inc. Has $42.53 Million Stock Position in Boston Scientific Corporation $BSX

Key Points

• Corebridge Financial Inc. reduced its investment in Boston Scientific by 4.4%, holding 421,595 shares valued at approximately $42.53 million at the end of the first quarter.
• Institutional investors and hedge funds own 89.07% of Boston Scientific's stock, with Vanguard Group being the largest shareholder after increasing its position by 1.3% to over 134 million shares.
• Boston Scientific reported a 22.8% year-over-year revenue increase to $5.06 billion in its latest quarter, exceeding analyst estimates of $4.89 billion.

Corebridge Financial Inc. lowered its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 421,595 shares of the medical equipment provider's stock after selling 19,358 shares during the quarter. Corebridge Financial Inc.'s holdings in Boston Scientific were worth $42,531,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Boston Scientific by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 134,588,729 shares of the medical equipment provider's stock valued at $13,577,311,000 after buying an additional 1,697,945 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Boston Scientific by 2.5% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock valued at $1,992,994,000 after acquiring an additional 554,388 shares during the period. Invesco Ltd. raised its stake in Boston Scientific by 5.3% in the 1st quarter. Invesco Ltd. now owns 16,624,940 shares of the medical equipment provider's stock valued at $1,677,124,000 after acquiring an additional 834,274 shares during the period. Northern Trust Corp increased its position in Boston Scientific by 18.0% during the 4th quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider's stock worth $1,303,681,000 after buying an additional 2,221,790 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Boston Scientific by 10.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,143,332 shares of the medical equipment provider's stock worth $1,426,779,000 after buying an additional 1,383,524 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Activity

In other news, Director Edward J. Ludwig sold 4,000 shares of the firm's stock in a transaction dated 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 directly owned 18,479 shares in the company, 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 the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.69, for a total value of $17,051,094.67. Following the transaction, the chief executive officer owned 1,476,882 shares of the company's stock, valued at $153,137,894.58. This trade represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 345,029 shares of company stock valued at $35,976,603. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Stock Performance

Shares of BSX stock opened at $105.9950 on Monday. The business's 50-day moving average price is $104.10 and its 200-day moving average price is $102.12. Boston Scientific Corporation has a 12 month low of $78.53 and a 12 month high of $108.94. The firm has a market capitalization of $157.06 billion, a price-to-earnings ratio of 63.09, a PEG ratio of 2.56 and a beta of 0.66. 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 (NYSE:BSX - Get Free Report) last announced its quarterly earnings results 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 return on equity of 19.21% and a net margin of 13.55%.The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the firm posted $0.62 earnings per share. The business'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. Equities research analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on BSX. Oppenheimer increased their price objective on Boston Scientific from $110.00 to $118.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Jefferies Financial Group restated a "hold" rating on shares of Boston Scientific in a research report on Monday, July 21st. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Leerink Partners began coverage on Boston Scientific in a research note on Monday, June 16th. They issued an "outperform" rating and a $118.00 price objective on the stock. Finally, Leerink Partnrs raised Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $117.50.

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.

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