Sumitomo Mitsui DS Asset Management Company Ltd Purchases 7,742 Shares of Boston Scientific Corporation $BSX

Key Points

• Sumitomo Mitsui DS Asset Management Company increased its stake in Boston Scientific by 4.0%, owning a total of 202,311 shares worth approximately $21.73 million.
• Boston Scientific reported quarterly earnings of $0.75 EPS, surpassing analysts' expectations of $0.72, with a revenue of $5.06 billion for the quarter.
• Several analysts raised their price targets for Boston Scientific, with the consensus rating now at "Buy" and an average price target of $118.04.

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 4.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,311 shares of the medical equipment provider's stock after buying an additional 7,742 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Boston Scientific were worth $21,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in BSX. Vanguard Group Inc. lifted its position in Boston Scientific by 1.3% in 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 purchasing an additional 1,697,945 shares during the period. Invesco Ltd. boosted its holdings 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 valued at $1,677,124,000 after purchasing an additional 834,274 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Boston Scientific by 10.8% in the 1st 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 in the last quarter. Amundi raised its stake in Boston Scientific by 2.6% during the first quarter. Amundi now owns 12,308,715 shares of the medical equipment provider's stock worth $1,212,408,000 after acquiring an additional 311,034 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of 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 acquiring an additional 460,580 shares during the period. Institutional investors own 89.07% of the company's stock.

Insider Buying and Selling

In related news, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction on 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 completion of the sale, the executive vice president directly owned 23,600 shares in the company, valued at $2,469,268. This represents a 42.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $105.43, for a total transaction of $5,271,500.00. Following the completion of the transaction, the executive vice president directly owned 178,342 shares of the company's stock, valued at approximately $18,802,597.06. The trade was a 21.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 174,214 shares of company stock worth $18,397,457. Company insiders own 0.50% of the company's stock.

Boston Scientific Stock Performance

NYSE:BSX traded down $1.24 on Monday, reaching $96.59. 3,704,865 shares of the company's stock were exchanged, compared to its average volume of 7,680,784. The firm has a market cap of $143.13 billion, a price-to-earnings ratio of 57.55, a P/E/G ratio of 2.36 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. The stock has a fifty day simple moving average of $104.40 and a 200-day simple moving average of $102.10. Boston Scientific Corporation has a 52 week low of $80.64 and a 52 week high of $109.50.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.03. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the business earned $0.62 earnings per share. Boston Scientific's revenue 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. As a group, sell-side analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada restated an "outperform" rating on shares of Boston Scientific in a research report on Thursday, July 24th. Truist Financial increased their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. 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 report on Thursday, July 24th. Wells Fargo & Company boosted their target price on Boston Scientific from $118.00 to $124.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $121.00 target price on shares of Boston Scientific in a research report on Friday. Three equities research 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 company's stock. According to MarketBeat.com, Boston Scientific currently has an average rating of "Buy" and an average price target of $118.04.

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.