NewSquare Capital LLC Has $6.68 Million Stock Position in Boston Scientific Corporation $BSX

NewSquare Capital LLC raised its position in Boston Scientific Corporation (NYSE:BSX) by 3.9% during the second quarter, Holdings Channel reports. The firm owned 62,191 shares of the medical equipment provider’s stock after purchasing an additional 2,341 shares during the period. NewSquare Capital LLC’s holdings in Boston Scientific were worth $6,680,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BSX. Key Financial Inc increased its holdings in Boston Scientific by 30.6% in the second quarter. Key Financial Inc now owns 939 shares of the medical equipment provider’s stock worth $101,000 after purchasing an additional 220 shares in the last quarter. Marion Wealth Management increased its stake in Boston Scientific by 6.9% during the 2nd quarter. Marion Wealth Management now owns 2,561 shares of the medical equipment provider’s stock valued at $275,000 after purchasing an additional 166 shares in the last quarter. Fullcircle Wealth LLC acquired a new position in Boston Scientific during the second quarter worth $275,000. Bridgewater Advisors Inc. grew its holdings in Boston Scientific by 1.6% during the second quarter. Bridgewater Advisors Inc. now owns 9,768 shares of the medical equipment provider’s stock worth $1,040,000 after buying an additional 158 shares in the last quarter. Finally, K.J. Harrison & Partners Inc raised its holdings in shares of Boston Scientific by 85.1% in the second quarter. K.J. Harrison & Partners Inc now owns 54,409 shares of the medical equipment provider’s stock valued at $5,844,000 after purchasing an additional 25,016 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boston Scientific

In other news, Director Ellen M. Zane sold 2,901 shares of the business’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $102.24, for a total transaction of $296,598.24. Following the sale, the director directly owned 24,134 shares of the company’s stock, valued at $2,467,460.16. The trade was a 10.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $98.47, for a total transaction of $4,923,500.00. Following the completion of the sale, the executive vice president directly owned 178,342 shares in the company, valued at approximately $17,561,336.74. 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 112,891 shares of company stock valued at $11,501,887 over the last quarter. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BSX. The Goldman Sachs Group reiterated a “buy” rating and issued a $124.00 price objective on shares of Boston Scientific in a research note on Wednesday, October 22nd. Canaccord Genuity Group reissued a “buy” rating and issued a $132.00 target price on shares of Boston Scientific in a research note on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Boston Scientific in a report on Wednesday, October 8th. Morgan Stanley increased their price objective on Boston Scientific from $125.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Finally, Raymond James Financial upped their target price on shares of Boston Scientific from $121.00 to $124.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 24th. Two equities research 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $123.77.

Boston Scientific Stock Performance

BSX stock opened at $98.57 on Tuesday. Boston Scientific Corporation has a one year low of $83.55 and a one year high of $109.50. The firm has a market cap of $146.05 billion, a price-to-earnings ratio of 52.71, a PEG ratio of 2.02 and a beta of 0.61. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37. The firm has a 50-day simple moving average of $100.63 and a two-hundred day simple moving average of $102.43.

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

Boston Scientific 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.