Granite Investment Partners LLC Invests $3.68 Million in Boston Scientific Corporation $BSX

Granite Investment Partners LLC acquired a new stake in Boston Scientific Corporation (NYSE:BSX) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 34,240 shares of the medical equipment provider’s stock, valued at approximately $3,678,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sound Income Strategies LLC raised its holdings in shares of Boston Scientific by 90.9% during the 2nd quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 120 shares in the last quarter. 1248 Management LLC bought a new position in Boston Scientific in the first quarter valued at about $26,000. Y.D. More Investments Ltd acquired a new position in Boston Scientific during the first quarter worth about $27,000. Princeton Global Asset Management LLC bought a new position in shares of Boston Scientific in the second quarter worth about $32,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Boston Scientific by 72.9% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 344 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 145 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Transactions at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $17,739,678.74. This represents a 21.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the sale, the executive vice president owned 23,600 shares of the company’s stock, valued at approximately $2,396,580. This trade represents a 42.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 143,095 shares of company stock worth $14,228,950. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Down 2.0%

Shares of NYSE:BSX opened at $99.03 on Wednesday. The firm has a market cap of $146.80 billion, a P/E ratio of 52.96, a P/E/G ratio of 2.03 and a beta of 0.67. Boston Scientific Corporation has a 12-month low of $85.98 and a 12-month high of $109.50. The business has a fifty day simple moving average of $99.28 and a 200 day simple moving average of $102.19. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.04. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The business’s quarterly revenue was up 20.3% on a year-over-year basis. 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 predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BSX shares. The Goldman Sachs Group reiterated a “buy” rating and set a $124.00 price objective on shares of Boston Scientific in a research report on Wednesday, October 22nd. BTIG Research reiterated a “buy” rating and set a $132.00 price target on shares of Boston Scientific in a report on Friday, November 21st. UBS Group increased their price target on Boston Scientific from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Oppenheimer upgraded Boston Scientific from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $118.00 to $125.00 in a research report on Monday, September 8th. Finally, Leerink Partners upped their target price on Boston Scientific from $127.00 to $128.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Boston Scientific has an average rating of “Buy” and a consensus target price 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.