Franklin Resources Inc. Buys 135,266 Shares of Boston Scientific Corporation $BSX

Franklin Resources Inc. raised its stake in Boston Scientific Corporation (NYSE:BSX) by 1.8% during the second quarter, HoldingsChannel reports. The fund owned 7,584,680 shares of the medical equipment provider’s stock after buying an additional 135,266 shares during the period. Franklin Resources Inc.’s holdings in Boston Scientific were worth $814,670,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BSX. Mediolanum International Funds Ltd grew its position in Boston Scientific by 24.4% during the 2nd quarter. Mediolanum International Funds Ltd now owns 525,994 shares of the medical equipment provider’s stock valued at $56,034,000 after purchasing an additional 103,124 shares during the last quarter. MAI Capital Management lifted its stake in shares of Boston Scientific by 4.5% in the second quarter. MAI Capital Management now owns 156,528 shares of the medical equipment provider’s stock worth $16,813,000 after buying an additional 6,773 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Boston Scientific by 14.9% during the second quarter. Hillsdale Investment Management Inc. now owns 6,950 shares of the medical equipment provider’s stock valued at $746,000 after buying an additional 900 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Boston Scientific during the second quarter valued at approximately $794,000. Finally, Entropy Technologies LP increased its position in shares of Boston Scientific by 766.1% during the second quarter. Entropy Technologies LP now owns 82,813 shares of the medical equipment provider’s stock valued at $8,895,000 after acquiring an additional 73,251 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 0.4%

BSX opened at $96.63 on Friday. The company has a market capitalization of $143.25 billion, a PE ratio of 51.68, a price-to-earnings-growth ratio of 2.02 and a beta of 0.58. The firm has a 50-day simple moving average of $99.09 and a two-hundred day simple moving average of $102.43. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. Boston Scientific Corporation has a 52 week low of $85.98 and a 52 week high of $109.50.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS 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 return on equity of 19.74% and a net margin of 14.43%.The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the previous year, the business earned $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. Analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $99.47, for a total value of $4,973,500.00. Following the sale, the executive vice president directly owned 178,342 shares in the company, valued at $17,739,678.74. The trade was a 21.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ellen M. Zane sold 12,891 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the sale, the director owned 24,134 shares in the company, valued at $2,371,889.52. This represents a 34.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 175,782 shares of company stock worth $17,742,314 in the last 90 days. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. Erste Group Bank downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. The Goldman Sachs Group restated a “buy” rating and set a $124.00 target price on shares of Boston Scientific in a research note on Wednesday, October 22nd. Robert W. Baird lifted their price objective on Boston Scientific from $123.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Truist Financial increased their price target on shares of Boston Scientific from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Morgan Stanley increased their target price on shares of Boston Scientific from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $123.77.

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.