Penobscot Investment Management Company Inc. Buys 10,177 Shares of Boston Scientific Corporation $BSX

Key Points

• Penobscot Investment Management Company Inc. increased its stake in Boston Scientific Corporation by 31.4%, now owning 42,607 shares valued at approximately $4.58 million after purchasing an additional 10,177 shares.
• Insider trading has been notable, with EVP Arthur C. Butcher selling 17,313 shares, reducing his ownership by 42.32% and Director Edward J. Ludwig selling 4,000 shares, reflecting a 17.79% decrease in ownership.
• Boston Scientific's stock is currently trading at $97.30, showing a year-to-date performance with a market capitalization of $144.17 billion and an anticipated earnings per share of 2.85 for the fiscal year.

Penobscot Investment Management Company Inc. raised its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 31.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,607 shares of the medical equipment provider's stock after purchasing an additional 10,177 shares during the period. Penobscot Investment Management Company Inc.'s holdings in Boston Scientific were worth $4,576,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BSX. 1248 Management LLC bought a new stake in Boston Scientific in the 1st quarter valued at $26,000. Y.D. More Investments Ltd acquired a new stake in Boston Scientific during the first quarter worth $27,000. Sound Income Strategies LLC lifted its holdings in shares of Boston Scientific by 90.9% during the second quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider's stock valued at $27,000 after acquiring an additional 120 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Boston Scientific during the second quarter valued at $37,000. Finally, Activest Wealth Management raised its holdings in shares of Boston Scientific by 6,216.7% in the first quarter. Activest Wealth Management now owns 379 shares of the medical equipment provider's stock valued at $38,000 after buying an additional 373 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the business's 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 directly owned 23,600 shares of the company's stock, valued at approximately $2,469,268. The trade was a 42.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig sold 4,000 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $106.03, for a total value of $424,120.00. Following the completion of the transaction, the director directly owned 18,479 shares in the company, valued at approximately $1,959,328.37. This trade represents a 17.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,214 shares of company stock valued at $17,972,457 in the last ninety days. Insiders own 0.50% of the company's stock.

Boston Scientific Stock Up 1.1%

Shares of NYSE BSX opened at $97.30 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37. Boston Scientific Corporation has a 52 week low of $80.64 and a 52 week high of $109.50. The stock has a market capitalization of $144.17 billion, a P/E ratio of 57.91, a PEG ratio of 2.32 and a beta of 0.61. The stock's fifty day moving average is $102.93 and its 200 day moving average is $102.05.

Boston Scientific (NYSE:BSX - Get Free Report) last released 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. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%.The firm had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter in the previous year, the business posted $0.62 earnings per share. The business's revenue for the quarter was up 22.8% on a year-over-year basis. Boston Scientific has set its Q3 2025 guidance at 0.700-0.720 EPS. Sell-side analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on BSX shares. UBS Group boosted their price objective on Boston Scientific from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Robert W. Baird boosted their target price on Boston Scientific from $123.00 to $128.00 and gave the stock an "outperform" rating in a research report on Wednesday. Needham & Company LLC restated a "buy" rating and set a $121.00 target price on shares of Boston Scientific in a research report on Wednesday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Boston Scientific in a research report on Saturday, September 27th. Finally, Wells Fargo & Company upped their price target on Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $120.79.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.