Boston Scientific Corporation $BSX Shares Purchased by Parnassus Investments LLC

Parnassus Investments LLC raised its holdings in Boston Scientific Corporation (NYSE:BSX) by 42,978.9% during the 3rd quarter, Holdings Channel reports. The firm owned 6,884,440 shares of the medical equipment provider’s stock after purchasing an additional 6,868,459 shares during the quarter. Boston Scientific comprises 1.6% of Parnassus Investments LLC’s investment portfolio, making the stock its 26th biggest holding. Parnassus Investments LLC’s holdings in Boston Scientific were worth $672,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in BSX. Vanguard Group Inc. boosted its position in Boston Scientific by 1.9% during the second quarter. Vanguard Group Inc. now owns 137,134,110 shares of the medical equipment provider’s stock worth $14,729,575,000 after acquiring an additional 2,545,381 shares during the last quarter. State Street Corp lifted its position in Boston Scientific by 1.1% during the second quarter. State Street Corp now owns 65,191,864 shares of the medical equipment provider’s stock valued at $7,002,258,000 after buying an additional 713,379 shares in the last quarter. Geode Capital Management LLC boosted its position in Boston Scientific by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 32,424,982 shares of the medical equipment provider’s stock worth $3,466,320,000 after purchasing an additional 622,602 shares during the period. Norges Bank acquired a new stake in shares of Boston Scientific in the second quarter valued at about $2,089,937,000. Finally, Invesco Ltd. raised its stake in shares of Boston Scientific by 1.4% during the second quarter. Invesco Ltd. now owns 16,851,518 shares of the medical equipment provider’s stock valued at $1,810,022,000 after purchasing an additional 226,578 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group decreased their price target on shares of Boston Scientific from $132.00 to $131.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. Robert W. Baird boosted their price objective on Boston Scientific from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Truist Financial dropped their price target on shares of Boston Scientific from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. Barclays upped their price objective on shares of Boston Scientific from $133.00 to $136.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Boston Scientific in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $125.21.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction on 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 transaction, the executive vice president owned 178,342 shares in the company, valued at approximately $17,739,678.74. The trade was a 21.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 23,600 shares in the company, valued at approximately $2,396,580. This trade represents a 42.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 93,095 shares of company stock valued at $9,305,450 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

NYSE:BSX opened at $97.68 on Friday. The firm has a market capitalization of $144.80 billion, a PE ratio of 52.23, a PEG ratio of 1.74 and a beta of 0.67. The firm’s fifty day simple moving average is $97.58 and its 200 day simple moving average is $100.78. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a 1 year low of $85.98 and a 1 year high of $109.50.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results 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. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.97 billion. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The company’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 EPS. 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, sell-side analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current year.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.