Edgewood Management LLC Takes $746.66 Million Position in Boston Scientific Corporation $BSX

Edgewood Management LLC acquired a new position in Boston Scientific Corporation (NYSE:BSX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,951,450 shares of the medical equipment provider’s stock, valued at approximately $746,655,000. Boston Scientific comprises approximately 2.4% of Edgewood Management LLC’s investment portfolio, making the stock its 21st largest position. Edgewood Management LLC owned 0.47% of Boston Scientific as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BSX. 1248 Management LLC acquired a new stake in shares of Boston Scientific in the 1st quarter valued at $26,000. Y.D. More Investments Ltd bought a new position in Boston Scientific in the first quarter valued at about $27,000. Sound Income Strategies LLC boosted its holdings in Boston Scientific by 90.9% in the second quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 120 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in Boston Scientific in the second quarter worth about $32,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in Boston Scientific during the 2nd quarter worth about $37,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BSX has been the topic of several recent research reports. Robert W. Baird raised their target price on shares of Boston Scientific from $123.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Canaccord Genuity Group reiterated a “buy” rating and set a $132.00 target price on shares of Boston Scientific in a research report on Thursday, October 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Boston Scientific in a research note on Wednesday, October 8th. Finally, Leerink Partners lifted their price objective on Boston Scientific from $127.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Two investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $123.77.

Insider Transactions at Boston Scientific

In other news, 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 transaction of $4,973,500.00. Following the transaction, the executive vice president 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 document filed with the SEC, which is available at this hyperlink. 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 sale, the director directly owned 24,134 shares of the company’s stock, valued at approximately $2,371,889.52. The trade was a 34.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 175,782 shares of company stock worth $17,742,314. 0.50% of the stock is currently owned by insiders.

Boston Scientific Trading Up 1.0%

Shares of NYSE BSX opened at $101.95 on Friday. The company’s fifty day moving average is $99.17 and its 200-day moving average is $102.28. The stock has a market cap of $151.13 billion, a price-to-earnings ratio of 54.52, a P/E/G ratio of 2.02 and a beta of 0.58. Boston Scientific Corporation has a twelve month low of $85.98 and a twelve month high of $109.50. 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 (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS 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 analysts’ expectations of $4.97 billion. Boston Scientific had a net margin of 14.43% and a return on equity of 19.74%. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. 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 predict that Boston Scientific Corporation will post 2.85 EPS for the current year.

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.