Personal CFO Solutions LLC has significantly increased its holdings in Boston Scientific Corporation by 28.8% during the second quarter of 2023, as disclosed in a recent Form 13F filing with the U.S. Securities and Exchange Commission. The firm now owns 2,793 shares of the medical equipment provider, valued at approximately $300,000 at the end of the reporting period.
Several other institutional investors have also adjusted their positions in Boston Scientific. Riverwater Partners LLC raised its stake by 3.3%, acquiring an additional 98 shares to reach a total of 3,104 shares, worth $333,000. Similarly, IVC Wealth Advisors LLC increased its holdings by 4.9%, now owning 2,199 shares valued at $236,000, after acquiring an additional 102 shares.
HHM Wealth Advisors LLC and Rise Advisors LLC also made notable increases in their stakes, with HHM acquiring an additional 103 shares to reach 881 shares, valued at $89,000, and Rise Advisors boosting its position to 844 shares worth $85,000. Sound View Wealth Advisors Group LLC increased its holdings by 3.9% during the same quarter, now owning 2,738 shares valued at $294,000. Overall, institutional investors and hedge funds own 89.07% of Boston Scientific’s stock.
Analyst Ratings and Insider Activity
Recent analyst evaluations reflect a generally positive outlook for Boston Scientific. Canaccord Genuity Group reiterated a “buy” rating, setting a price target of $132.00, while UBS Group raised its target price from $135.00 to $140.00 and maintained a “buy” rating. Additionally, Royal Bank of Canada and Barclays have issued favorable ratings with price targets of $125.00 and $136.00, respectively. According to MarketBeat.com, Boston Scientific has an average rating of “buy” with an average target price of $123.77.
In terms of insider trading, significant transactions have been noted. Director Ellen M. Zane sold 12,891 shares at an average price of $98.28, totaling approximately $1.27 million, which resulted in a 34.82% reduction of her holdings. Executive Vice President Joseph Michael Fitzgerald also sold 50,000 shares for approximately $4.92 million, reducing his stake by 21.90%.
Boston Scientific’s Stock Performance
As of the latest trading session, Boston Scientific shares opened at $96.77. The company has a market capitalization of $143.46 billion and has reported a P/E ratio of 51.75. The stock has fluctuated between a 52-week low of $85.98 and a 52-week high of $109.50.
Boston Scientific recently announced its quarterly earnings on October 22, 2023, reporting earnings per share (EPS) of $0.75, surpassing the consensus estimate of $0.71. The company’s revenue for the quarter reached $5.07 billion, exceeding expectations of $4.97 billion, marking a 20.3% increase compared to the previous year.
Looking ahead, Boston Scientific has set its fiscal year 2025 guidance at $3.020 to $3.040 EPS, with Q4 2025 guidance ranging from $0.770 to $0.790 EPS. Analysts project the company will post an EPS of $2.85 for the current fiscal year.
Boston Scientific Corporation develops and markets medical devices for various interventional medical specialties worldwide, operating through two segments: MedSurg and Cardiovascular. Its product offerings span a wide range of medical conditions, including gastrointestinal, urological, and neurological disorders.
For ongoing updates related to Boston Scientific and its market activities, investors can follow the latest news and analyst ratings through platforms like MarketBeat.com.
