Boston Scientific Corporation $BSX Shares Sold by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC reduced its stake in Boston Scientific by 28.9%, selling 397,418 shares and now holding approximately $98.4 million worth of stock, which constitutes 0.6% of its total portfolio.
• Insider trading activity includes Arthur C. Butcher selling 17,313 shares, resulting in a 42.32% decrease in his position, while Edward J. Ludwig sold 4,000 shares for a 17.79% decrease.
• Despite recent share sales, Boston Scientific's stock remains well-rated, with several firms like Raymond James and UBS Group raising their price targets, indicating a strong buy sentiment.

Fred Alger Management LLC lowered its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 28.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 975,603 shares of the medical equipment provider's stock after selling 397,418 shares during the period. Boston Scientific makes up approximately 0.6% of Fred Alger Management LLC's investment portfolio, making the stock its 28th largest holding. Fred Alger Management LLC owned 0.07% of Boston Scientific worth $98,419,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BSX. GAMMA Investing LLC boosted its position in Boston Scientific by 11,720.3% in the first quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider's stock valued at $260,057,000 after buying an additional 2,556,078 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Boston Scientific by 18.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,839,362 shares of the medical equipment provider's stock valued at $968,172,000 after acquiring an additional 1,709,461 shares during the period. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 1,697,945 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Boston Scientific by 18.6% in 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 acquiring an additional 1,664,108 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in 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 valued at $250,757,000 after acquiring an additional 1,536,663 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analysts Set New Price Targets

BSX has been the subject of several research analyst reports. Truist Financial upped their target price on Boston Scientific from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Boston Scientific in a research note on Thursday, July 24th. Citigroup reaffirmed a "buy" rating and set a $125.00 target price (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Wells Fargo & Company upped their target price on Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Leerink Partners initiated coverage on Boston Scientific in a research note on Monday, June 16th. They set an "outperform" rating and a $118.00 target price for the company. Three equities research 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. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $118.04.

Boston Scientific Trading Down 1.6%

NYSE:BSX traded down $1.63 during trading hours on Friday, hitting $102.71. The company had a trading volume of 10,541,837 shares, compared to its average volume of 6,118,901. 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 50-day moving average of $104.86 and a 200 day moving average of $102.26. The company has a market cap of $152.19 billion, a P/E ratio of 61.14, a P/E/G ratio of 2.51 and a beta of 0.65. Boston Scientific Corporation has a 1 year low of $80.64 and a 1 year high of $109.50.

Boston Scientific (NYSE:BSX - Get Free Report) last issued 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 company had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $4.89 billion. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%.The firm's quarterly revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 EPS. Boston Scientific has set its Q3 2025 guidance at 0.700-0.720 EPS. Sell-side analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Yoshiaki Fujimori sold 2,901 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total transaction of $310,377.99. Following the completion of the transaction, the director directly owned 2,081 shares in the company, valued at approximately $222,646.19. This represents a 58.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $104.63, for a total value of $1,811,459.19. Following the transaction, the executive vice president owned 23,600 shares of the company's stock, valued at approximately $2,469,268. This represents a 42.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,214 shares of company stock valued at $18,397,457 in the last quarter. Corporate insiders own 0.50% of the company's stock.

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.