Freedom Investment Management Inc. Acquires 2,751 Shares of Boston Scientific Corporation $BSX

Key Points

• Freedom Investment Management Inc. increased its stake in Boston Scientific Corporation by 51.2% during the 2nd quarter, owning a total of 8,129 shares valued at $873,000.
• Insider activity includes EVP Arthur C. Butcher selling 17,313 shares, reflecting a 42.32% decrease in his position, with total insider sales amounting to $17.5 million in the last ninety days.
• Boston Scientific reported an EPS of $0.75 for the latest quarter, exceeding analyst expectations, and set FY 2025 guidance at $3.020-3.040 EPS.

Freedom Investment Management Inc. increased its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 51.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,129 shares of the medical equipment provider's stock after buying an additional 2,751 shares during the period. Freedom Investment Management Inc.'s holdings in Boston Scientific were worth $873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sound Income Strategies LLC lifted its position in Boston Scientific by 90.9% during the 2nd quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider's stock worth $27,000 after buying an additional 120 shares in the last quarter. 1248 Management LLC acquired a new position in Boston Scientific during the 1st quarter worth about $26,000. Y.D. More Investments Ltd acquired a new position in Boston Scientific during the 1st quarter worth about $27,000. Princeton Global Asset Management LLC acquired a new position in Boston Scientific during the 2nd quarter worth about $32,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in Boston Scientific during the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Activity

In other news, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 23,600 shares of the company's stock, valued at $2,469,268. This represents a 42.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Yoshiaki Fujimori sold 2,901 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total value of $310,377.99. Following the sale, the director directly owned 2,081 shares of the company's stock, valued at approximately $222,646.19. The trade was a 58.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 170,214 shares of company stock valued at $17,548,337 in the last ninety days. 0.50% of the stock is owned by insiders.

Boston Scientific Stock Performance

Shares of BSX stock opened at $101.08 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 0.82. The stock has a market cap of $149.78 billion, a PE ratio of 54.06, a price-to-earnings-growth ratio of 2.37 and a beta of 0.61. The stock has a 50-day moving average of $101.14 and a 200-day moving average of $102.00. Boston Scientific Corporation has a one year low of $80.64 and a one year high of $109.50.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.04. The company had revenue of $5.07 billion during the quarter, compared to analysts' expectations of $4.97 billion. Boston Scientific had a return on equity of 19.74% and a net margin of 14.43%.Boston Scientific's revenue was up 20.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS. Q4 2025 guidance at 0.770-0.790 EPS. As a group, sell-side analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

BSX has been the topic of several research reports. Wells Fargo & Company upped their price target on shares of Boston Scientific from $124.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday. Needham & Company LLC restated a "buy" rating and set a $121.00 target price on shares of Boston Scientific in a research report on Friday, October 17th. Truist Financial upped their target price on shares of Boston Scientific from $129.00 to $130.00 and gave the company a "buy" rating in a research report on Thursday. Erste Group Bank downgraded shares of Boston Scientific from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Finally, Morgan Stanley upped their target price on shares of Boston Scientific from $125.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $123.77.

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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