Krilogy Financial LLC Sells 34,192 Shares of Boston Scientific Corporation $BSX

Key Points

• Krilogy Financial LLC cut its Boston Scientific stake by 74% in the first quarter, selling 34,192 shares and leaving it with 12,028 shares valued at about $763,000.
• Boston Scientific reported strong quarterly results, with EPS of $0.80 beating estimates and revenue of $5.20 billion slightly above forecasts, while revenue rose 11.6% year over year.
• The company’s board approved a $5 billion share repurchase program, and recent insider buying plus ongoing institutional ownership of 89.07% suggest continued confidence in the stock.

Krilogy Financial LLC lessened its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 74.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,028 shares of the medical equipment provider's stock after selling 34,192 shares during the period. Krilogy Financial LLC's holdings in Boston Scientific were worth $763,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Boston Scientific by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider's stock worth $13,319,060,000 after acquiring an additional 1,436,550 shares during the last quarter. State Street Corp lifted its stake in shares of Boston Scientific by 1.4% in the 4th quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider's stock valued at $6,278,422,000 after purchasing an additional 920,495 shares during the last quarter. Capital World Investors boosted its holdings in shares of Boston Scientific by 1.9% in the 4th quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider's stock worth $2,588,953,000 after purchasing an additional 502,627 shares during the period. Norges Bank purchased a new position in shares of Boston Scientific in the 4th quarter worth approximately $2,199,395,000. Finally, Morgan Stanley increased its position in shares of Boston Scientific by 10.8% during the 4th quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider's stock valued at $2,189,289,000 after purchasing an additional 2,246,308 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Insider Buying and Selling at Boston Scientific

In other news, Director Cheryl Pegus bought 1,770 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $56.49 per share, with a total value of $99,987.30. Following the transaction, the director directly owned 1,770 shares in the company, valued at approximately $99,987.30. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David C. Habiger bought 2,250 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $55.92 per share, with a total value of $125,820.00. Following the completion of the acquisition, the director directly owned 13,878 shares in the company, valued at approximately $776,057.76. This trade represents a 19.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 9,800 shares of company stock valued at $554,012 in the last ninety days. Corporate insiders own 0.34% of the company's stock.

Boston Scientific Trading Down 0.1%

BSX stock opened at $44.16 on Friday. The company has a market capitalization of $65.64 billion, a PE ratio of 18.48, a P/E/G ratio of 0.85 and a beta of 0.56. Boston Scientific Corporation has a 12 month low of $43.89 and a 12 month high of $109.50. The firm's 50-day moving average is $52.87 and its 200 day moving average is $71.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.01. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the firm earned $0.75 EPS. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. Boston Scientific has set its Q2 2026 guidance at 0.820-0.840 EPS and its FY 2026 guidance at 3.340-3.410 EPS. On average, research analysts anticipate that Boston Scientific Corporation will post 3.36 EPS for the current year.

Boston Scientific declared that its board has approved a share repurchase plan on Monday, May 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

BSX has been the subject of a number of analyst reports. UBS Group lowered their price target on Boston Scientific from $120.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, March 17th. Bank of America cut their price objective on shares of Boston Scientific from $105.00 to $68.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. Wells Fargo & Company reissued an "equal weight" rating and issued a $55.00 target price (down from $75.00) on shares of Boston Scientific in a research note on Thursday, May 28th. Canaccord Genuity Group lowered their target price on shares of Boston Scientific from $71.00 to $70.00 and set a "buy" rating for the company in a report on Monday, June 1st. Finally, Daiwa Securities Group cut shares of Boston Scientific from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of "Moderate Buy" and an average target price of $83.36.

Boston Scientific Company Profile

Boston Scientific Corporation NYSE: BSX is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific's activities span product development, clinical research, regulatory affairs and commercial sales.

Want to see what other hedge funds are holding BSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Scientific Corporation (NYSE:BSX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.