Bank of Nova Scotia Boosts Holdings in Boston Scientific Corporation $BSX

Bank of Nova Scotia grew its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 106.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,025,519 shares of the medical equipment provider’s stock after purchasing an additional 1,559,605 shares during the period. Boston Scientific makes up 0.7% of Bank of Nova Scotia’s investment portfolio, making the stock its 24th largest holding. Bank of Nova Scotia’s holdings in Boston Scientific were worth $324,971,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of BSX. 1248 Management LLC bought a new stake in Boston Scientific during the 1st quarter valued at approximately $26,000. Sound Income Strategies LLC boosted its position in shares of Boston Scientific by 90.9% during the second quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 120 shares in the last quarter. Kilter Group LLC purchased a new stake in Boston Scientific in the second quarter worth $30,000. Princeton Global Asset Management LLC bought a new position in Boston Scientific in the second quarter worth $32,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in Boston Scientific in the second quarter worth $37,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Trading Down 0.3%

NYSE:BSX opened at $97.46 on Monday. The stock has a market cap of $144.48 billion, a price-to-earnings ratio of 52.12, a PEG ratio of 1.96 and a beta of 0.67. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average price is $99.27 and its 200-day moving average price is $102.02. Boston Scientific Corporation has a 52 week low of $85.98 and a 52 week high of $109.50.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data 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. Boston Scientific had a net margin of 14.43% and a return on equity of 19.46%. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.97 billion. During the same period in the previous year, the business earned $0.63 EPS. The firm’s revenue for the quarter 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. On average, equities research analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 directly owned 23,600 shares of the company’s stock, valued at $2,396,580. This trade represents a 42.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $99.47, for a total value of $4,973,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares of the company’s stock, valued at $17,739,678.74. The trade was a 21.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 143,095 shares of company stock valued at $14,228,950 over the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BSX shares. Canaccord Genuity Group restated a “buy” rating and set a $132.00 target price on shares of Boston Scientific in a report on Thursday, October 23rd. Royal Bank Of Canada reissued an “outperform” rating and set a $125.00 price objective on shares of Boston Scientific in a research note on Monday, September 29th. Morgan Stanley upped their price objective 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. Truist Financial lifted their target price on shares of Boston Scientific from $129.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, UBS Group upped their price target on Boston Scientific from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific currently has a consensus 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.