Bayforest Capital Increases Stake in Boston Scientific by 511.6%

Bayforest Capital Ltd has significantly increased its investment in Boston Scientific Corporation, acquiring an additional 1,893 shares during the second quarter of 2023. This move reflects a remarkable growth of 511.6% in its holdings, bringing the total number of shares owned by the firm to 2,263. At the end of the reporting period, these shares were valued at approximately $243,000, according to a recent filing with the Securities and Exchange Commission.

The surge in Bayforest’s stake coincides with similar activity among other institutional investors. For instance, HM Payson & Co. increased its shares in Boston Scientific by 1.4% during the first quarter and now holds 6,875 shares valued at around $694,000. IVC Wealth Advisors LLC also expanded its holdings by 4.9%, owning 2,199 shares now worth $236,000.

Park Square Financial Group LLC and HHM Wealth Advisors LLC each reported gains in their positions as well. Park Square increased its stake by 5.2%, now holding 2,066 shares valued at $208,000, while HHM Wealth Advisors saw a 13.2% increase, totaling 881 shares worth $89,000. Rise Advisors LLC also reported a 13.9% increase in its holdings.

Institutional investors collectively own 89.07% of Boston Scientific’s stock, indicating strong confidence in the company’s future.

Insider Trading Insights

Recent insider activity at Boston Scientific has drawn attention as well. Director Edward J. Ludwig sold 4,000 shares on July 25, 2023, at an average price of $106.03, totaling approximately $424,120. Following this transaction, Ludwig holds 18,479 shares valued at about $1,959,328.37, marking a 17.79% decrease in his position.

Additionally, Executive Vice President Joseph Michael Fitzgerald sold 50,000 shares on August 1, 2023, at an average price of $104.63, resulting in a transaction amount of $5,231,500. Fitzgerald now owns 178,342 shares valued at approximately $18,659,923.46, which is a 21.90% reduction in his ownership.

In total, insiders sold 174,214 shares in the last 90 days, equating to a value of $17,972,457. Currently, insiders hold 0.50% of Boston Scientific’s shares.

Boston Scientific’s Financial Performance

Shares of Boston Scientific (NYSE: BSX) opened at $97.72 on Friday. The company has experienced a 1-year low of $80.64 and a high of $109.50, with a market capitalization of $144.80 billion. The stock has a price-to-earnings (P/E) ratio of 58.17 and a price-to-earnings-growth (PEG) ratio of 2.35.

Boston Scientific’s last quarterly earnings report, issued on July 23, 2023, revealed earnings per share (EPS) of $0.75, exceeding analyst expectations of $0.72 by $0.03. The company reported a net margin of 13.55% and a return on equity of 19.21%. Revenue for the quarter reached $5.06 billion, surpassing projections of $4.89 billion and reflecting a year-over-year revenue increase of 22.8%.

Looking ahead, Boston Scientific has set its guidance for the third quarter of 2025 at $0.700 to $0.720 EPS. Analysts anticipate the company will report an EPS of $2.85 for the current fiscal year.

Boston Scientific Corporation is a global leader in developing, manufacturing, and marketing medical devices across various interventional medical specialties. The company operates through two segments: MedSurg and Cardiovascular, offering a range of devices aimed at diagnosing and treating multiple medical conditions.