OMERS ADMINISTRATION Corp Sells 6,569 Shares of Boston Scientific Corporation $BSX

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Boston Scientific Corporation by 10.7%, ending the quarter with a total of 54,727 shares valued at approximately $5.52 million.
• Boston Scientific reported a 22.8% increase in revenue year-over-year, with Q2 earnings of $0.75 EPS, surpassing analyst expectations.
• Institutional investors own 89.07% of Boston Scientific's stock, indicating strong backing from the financial sector.

OMERS ADMINISTRATION Corp lessened its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 10.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,727 shares of the medical equipment provider's stock after selling 6,569 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Boston Scientific were worth $5,521,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Colonial Trust Co SC lifted its position in Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 260 shares during the last quarter. Investment Management Corp VA ADV purchased a new position in Boston Scientific in the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC purchased a new position in shares of Boston Scientific during the fourth quarter worth approximately $26,000. Y.D. More Investments Ltd purchased a new position in Boston Scientific during the 1st quarter worth $27,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Boston Scientific during the 4th quarter worth $31,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Ratings Changes

BSX has been the subject of several analyst reports. Truist Financial boosted their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Leerink Partners began coverage on Boston Scientific in a research report on Monday, June 16th. They issued an "outperform" rating and a $118.00 target price on the stock. Morgan Stanley lifted their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Jefferies Financial Group restated a "hold" rating on shares of Boston Scientific in a research report on Monday, July 21st. Finally, Leerink Partnrs raised Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $117.50.

Boston Scientific Trading Up 0.2%

Shares of Boston Scientific stock traded up $0.25 during trading hours on Wednesday, hitting $106.91. The company's stock had a trading volume of 1,639,541 shares, compared to its average volume of 7,449,629. Boston Scientific Corporation has a 12 month low of $80.50 and a 12 month high of $108.94. The stock has a 50 day moving average of $104.65 and a 200 day moving average of $102.14. The company has a market capitalization of $158.42 billion, a PE ratio of 63.62, a price-to-earnings-growth ratio of 2.54 and a beta of 0.65. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 0.82.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%.The company had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $4.89 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. Boston Scientific's revenue for the quarter was up 22.8% compared to the same quarter last year. Boston Scientific has set its Q3 2025 guidance at 0.700-0.720 EPS. Analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $106.03, for a total value of $424,120.00. Following the completion of the sale, the director directly owned 18,479 shares of the company's stock, valued at $1,959,328.37. This trade represents a 17.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $2,469,268. This trade represents a 42.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 124,214 shares of company stock valued at $13,125,957. 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.