Martingale Asset Management L P Grows Holdings in Boston Scientific Corporation $BSX

Key Points

• Martingale Asset Management L P increased its holdings in Boston Scientific Corporation by 304% in Q1, acquiring 15,235 shares, bringing their total to 20,247 shares valued at approximately $2,043,000.
• Several other institutional investors also raised their stakes in Boston Scientific, with 89.07% of the company’s stock owned by institutional investors as a result.
• Boston Scientific reported a Q2 earnings per share (EPS) of $0.75, beating estimates, with a year-over-year revenue increase of 22.8% to $5.06 billion.

Martingale Asset Management L P lifted its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 304.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,247 shares of the medical equipment provider's stock after purchasing an additional 15,235 shares during the period. Martingale Asset Management L P's holdings in Boston Scientific were worth $2,043,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Boston Scientific by 1.3% during the first 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. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Boston Scientific by 2.5% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock worth $1,992,994,000 after acquiring an additional 554,388 shares during the last quarter. Invesco Ltd. boosted its position in Boston Scientific by 5.3% during the first quarter. Invesco Ltd. now owns 16,624,940 shares of the medical equipment provider's stock worth $1,677,124,000 after acquiring an additional 834,274 shares during the last quarter. Northern Trust Corp boosted its position in Boston Scientific by 18.0% during the fourth quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider's stock worth $1,303,681,000 after acquiring an additional 2,221,790 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Boston Scientific by 10.8% during 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 acquiring an additional 1,383,524 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the sale, the chief executive officer owned 1,476,882 shares of the company's stock, valued at $153,137,894.58. The trade was a 10.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Friday, August 1st. The stock was sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the sale, the executive vice president directly owned 23,600 shares in the company, valued at $2,469,268. This trade represents a 42.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 345,029 shares of company stock worth $35,976,603 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BSX shares. UBS Group raised their target price on shares of Boston Scientific from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Barclays raised their target price on shares of Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Raymond James Financial raised their target price on shares of Boston Scientific from $121.00 to $124.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 24th. Morgan Stanley raised their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Boston Scientific in a report on Thursday, July 24th. Three 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $117.50.

Boston Scientific Stock Up 1.2%

Shares of NYSE:BSX traded up $1.31 during midday trading on Tuesday, hitting $106.42. 5,613,286 shares of the company's stock traded hands, compared to its average volume of 7,537,648. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37. The company has a market cap of $157.69 billion, a PE ratio of 63.35, a P/E/G ratio of 2.56 and a beta of 0.66. The firm's fifty day moving average price is $104.18 and its two-hundred day moving average price is $102.12. Boston Scientific Corporation has a twelve month low of $79.03 and a twelve month high of $108.94.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The business's quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 EPS. Boston Scientific has set its Q3 2025 guidance at 0.700-0.720 EPS. On average, equities research analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

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.