Midwest Trust Co Takes Position in Boston Scientific Corporation $BSX

Midwest Trust Co purchased a new position in shares of Boston Scientific Corporation (NYSE:BSX) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,549 shares of the medical equipment provider’s stock, valued at approximately $918,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Boston Scientific by 15.4% in the 2nd quarter. GAMMA Investing LLC now owns 29,486 shares of the medical equipment provider’s stock valued at $3,167,000 after acquiring an additional 3,932 shares during the period. MRA Advisory Group bought a new position in shares of Boston Scientific during the second quarter worth approximately $273,000. Bank of New Hampshire lifted its holdings in Boston Scientific by 552.0% during the 2nd quarter. Bank of New Hampshire now owns 19,724 shares of the medical equipment provider’s stock worth $2,119,000 after purchasing an additional 16,699 shares during the last quarter. NS Partners Ltd boosted its stake in Boston Scientific by 1.6% in the 1st quarter. NS Partners Ltd now owns 368,189 shares of the medical equipment provider’s stock valued at $37,143,000 after purchasing an additional 5,704 shares during the period. Finally, New England Research & Management Inc. acquired a new position in Boston Scientific in the 2nd quarter valued at $1,133,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 178,342 shares of the company’s stock, valued at $17,739,678.74. This represents a 21.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ellen M. Zane sold 12,891 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was 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. In the last 90 days, insiders have sold 175,782 shares of company stock worth $17,742,314. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BSX has been the subject of several analyst reports. Raymond James Financial lifted their price objective on shares of Boston Scientific from $121.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 24th. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $124.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Robert W. Baird increased their price target on Boston Scientific from $123.00 to $128.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Erste Group Bank cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, Truist Financial raised their price target on Boston Scientific from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Two 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 stock presently has an average rating of “Buy” and a consensus price target of $123.77.

Boston Scientific Stock Performance

NYSE:BSX opened at $102.53 on Wednesday. The stock’s 50-day moving average is $99.92 and its 200-day moving average is $102.53. Boston Scientific Corporation has a 1-year low of $85.98 and a 1-year high of $109.50. 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 has a market cap of $151.99 billion, a P/E ratio of 54.83, a price-to-earnings-growth ratio of 2.02 and a beta of 0.58.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.97 billion. Boston Scientific had a return on equity of 19.74% and a net margin of 14.43%.Boston Scientific’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS. Q4 2025 guidance at 0.770-0.790 EPS. Equities research analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

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.