Ninety One UK Ltd Acquires 217,308 Shares of Boston Scientific Corporation $BSX

by · The Markets Daily

Ninety One UK Ltd boosted its holdings in Boston Scientific Corporation (NYSE:BSX – Free Report) by 4.2% in the third quarter, HoldingsChannel reports. The firm owned 5,363,526 shares of the medical equipment provider’s stock after purchasing an additional 217,308 shares during the period. Boston Scientific makes up about 1.2% of Ninety One UK Ltd’s investment portfolio, making the stock its 25th biggest holding. Ninety One UK Ltd’s holdings in Boston Scientific were worth $523,641,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in BSX. FWL Investment Management LLC acquired a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $26,000. Sound Income Strategies LLC boosted its stake in Boston Scientific by 90.9% during the second quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 120 shares in the last quarter. Steph & Co. acquired a new stake in Boston Scientific in the third quarter worth $25,000. Kilter Group LLC bought a new stake in Boston Scientific in the second quarter valued at $30,000. Finally, Princeton Global Asset Management LLC bought a new stake in Boston Scientific in the second quarter valued at $32,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares in the company, valued at $17,739,678.74. This trade represents a 21.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ellen M. Zane sold 12,891 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total value of $1,266,927.48. Following the completion of the transaction, the director owned 24,134 shares in the company, valued at approximately $2,371,889.52. The trade was a 34.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 93,095 shares of company stock valued at $9,305,450 in the last three months. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

BSX has been the subject of several research reports. Oppenheimer upgraded Boston Scientific from a “market perform” rating to an “outperform” rating and raised their target price for the company from $118.00 to $125.00 in a research note on Monday, September 8th. Barclays increased their price target on Boston Scientific from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Wells Fargo & Company upped their target price on Boston Scientific from $124.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Robert W. Baird lifted their price target on shares of Boston Scientific from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Finally, Leerink Partners boosted their price target on shares of Boston Scientific from $127.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Boston Scientific has an average rating of “Buy” and a consensus target price of $124.85.

Get Our Latest Stock Report on Boston Scientific

Boston Scientific Stock Down 0.7%

Shares of NYSE:BSX opened at $95.29 on Thursday. Boston Scientific Corporation has a 1 year low of $85.98 and a 1 year high of $109.50. The company has a market capitalization of $141.26 billion, a PE ratio of 50.96, a price-to-earnings-growth ratio of 1.93 and a beta of 0.67. The business has a fifty day moving average price of $98.19 and a two-hundred day moving average price of $101.01. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.96.

Boston Scientific (NYSE:BSX – Get Free Report) last issued its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.97 billion. Boston Scientific had a net margin of 14.43% and a return on equity of 19.46%. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS and its Q4 2025 guidance at 0.770-0.790 EPS. Analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Boston Scientific Company Profile

(Free Report)

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.

See Also

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