Longboard Asset Management LP Invests $357,000 in Boston Scientific Corporation $BSX

Key Points

• Longboard Asset Management LP has acquired a new stake in Boston Scientific, purchasing 3,328 shares valued at approximately $357,000, making it the firm's 3rd largest holding.
• Boston Scientific's earnings report showed a 22.8% year-over-year revenue increase, posting $5.06 billion with an EPS of $0.75, beating analysts' expectations.
• Several analysts have recently rated Boston Scientific as a strong buy or outperform, with the average price target set at $118.04.

Longboard Asset Management LP bought a new stake in Boston Scientific Corporation (NYSE:BSX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,328 shares of the medical equipment provider's stock, valued at approximately $357,000. Boston Scientific accounts for about 0.9% of Longboard Asset Management LP's portfolio, making the stock its 3rd biggest holding.

Several other hedge funds also recently modified their holdings of BSX. Vanguard Group Inc. grew 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 worth $13,577,311,000 after acquiring an additional 1,697,945 shares during the last quarter. Invesco Ltd. boosted its position in shares of Boston Scientific by 5.3% in the first quarter. Invesco Ltd. now owns 16,624,940 shares of the medical equipment provider's stock worth $1,677,124,000 after buying an additional 834,274 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Boston Scientific by 10.8% in the first 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. Amundi boosted its position in Boston Scientific by 2.6% during the first quarter. Amundi now owns 12,308,715 shares of the medical equipment provider's stock valued at $1,212,408,000 after purchasing an additional 311,034 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Boston Scientific by 4.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,299,942 shares of the medical equipment provider's stock valued at $1,139,938,000 after purchasing an additional 460,580 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BSX. Truist Financial raised their target price on Boston Scientific from $120.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Wells Fargo & Company boosted their price target on Boston Scientific from $118.00 to $124.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Needham & Company LLC restated a "buy" rating and set a $121.00 price target on shares of Boston Scientific in a research note on Friday. Barclays lifted their price objective on Boston Scientific from $125.00 to $133.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Leerink Partnrs raised Boston Scientific to a "strong-buy" rating in a report on Monday, June 16th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $118.04.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded down $0.92 during mid-day trading on Monday, reaching $96.91. The company had a trading volume of 11,012,552 shares, compared to its average volume of 8,405,870. 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 firm has a market cap of $143.60 billion, a price-to-earnings ratio of 57.69, a PEG ratio of 2.36 and a beta of 0.65. The company's 50-day moving average price is $104.25 and its 200-day moving average price is $102.08. 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 issued its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.03. The business had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The business's revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS. Boston Scientific has set its Q3 2025 guidance at 0.700-0.720 EPS. As a group, equities research analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

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