Synovus Financial Corp Buys 5,602 Shares of Boston Scientific Corporation $BSX

Key Points

• Synovus Financial Corp increased its stake in Boston Scientific Corporation by 32.1% during the first quarter, owning 23,049 shares worth approximately $2.3 million at the end of the quarter.
• Boston Scientific's recent earnings report exceeded expectations, with revenues of $5.06 billion and an earnings per share (EPS) of $0.75, surpassing the consensus estimate of $0.72.
• Numerous analysts have raised their price targets for Boston Scientific, with Wells Fargo increasing theirs from $118 to $124 and UBS raising theirs from $130 to $135, reflecting a positive outlook on the stock.

Synovus Financial Corp grew its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 32.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 23,049 shares of the medical equipment provider's stock after buying an additional 5,602 shares during the period. Synovus Financial Corp's holdings in Boston Scientific were worth $2,325,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings 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 buying an additional 1,697,945 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Boston Scientific by 2.5% in 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 period. Invesco Ltd. grew its stake 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 acquiring an additional 834,274 shares during the period. Northern Trust Corp grew its stake in shares of Boston Scientific by 18.0% in 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 period. Finally, Goldman Sachs Group Inc. grew its stake 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 acquiring an additional 1,383,524 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BSX has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Needham & Company LLC reiterated a "buy" rating and issued a $115.00 price target on shares of Boston Scientific in a research note on Wednesday, May 28th. Leerink Partners initiated coverage on shares of Boston Scientific in a research note on Monday, June 16th. They issued an "outperform" rating and a $118.00 price target for the company. Jefferies Financial Group reiterated a "hold" rating on shares of Boston Scientific in a research note on Monday, July 21st. Finally, Robert W. Baird lifted their price target on shares of Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Three 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. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $117.50.

Insiders Place Their Bets

In other Boston Scientific news, Director Yoshiaki Fujimori sold 2,901 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total value of $310,377.99. Following the completion of the transaction, 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 document filed with the SEC, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the completion of the transaction, the chief executive officer owned 1,476,882 shares of the company's stock, valued at approximately $153,137,894.58. The trade was a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 345,029 shares of company stock valued at $35,976,603. Insiders own 0.50% of the company's stock.

Boston Scientific Stock Performance

BSX stock traded down $0.09 during midday trading on Thursday, reaching $105.78. 3,936,126 shares of the company's stock traded hands, compared to its average volume of 6,106,210. Boston Scientific Corporation has a 52-week low of $79.53 and a 52-week high of $108.94. The stock has a market cap of $156.74 billion, a P/E ratio of 62.96, a PEG ratio of 2.55 and a beta of 0.66. 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 stock's 50-day moving average is $104.45 and its 200 day moving average is $102.17.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. The business had revenue of $5.06 billion during 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 company's revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. Boston Scientific has set its Q3 2025 guidance at 0.700-0.720 EPS. As a group, analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current year.

Boston Scientific Company 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.