David Habiger Buys 1,042 Shares of Boston Scientific (NYSE:BSX) Stock

Key Points

• Director David Habiger purchased 1,042 Boston Scientific shares at an average price of $48.07, increasing his direct ownership by 7.51% to 14,920 shares.
• Boston Scientific’s shares fell 2.8% to $47.73, despite the company beating quarterly earnings and revenue estimates and reporting 7.5% year-over-year revenue growth.
• The company authorized a $5 billion share-repurchase program, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $71.62.

Boston Scientific Corporation (NYSE:BSX - Get Free Report) Director David Habiger purchased 1,042 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was acquired at an average cost of $48.07 per share, with a total value of $50,088.94. Following the transaction, the director directly owned 14,920 shares in the company, valued at $717,204.40. This trade represents a 7.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Boston Scientific Stock Down 2.8%

Shares of NYSE:BSX traded down $1.36 during trading on Wednesday, hitting $47.73. The company's stock had a trading volume of 16,449,695 shares, compared to its average volume of 18,405,885. Boston Scientific Corporation has a fifty-two week low of $42.20 and a fifty-two week high of $109.50. The business has a 50 day moving average price of $45.78 and a two-hundred day moving average price of $61.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90. The company has a market capitalization of $70.94 billion, a PE ratio of 19.32, a P/E/G ratio of 1.06 and a beta of 0.56.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The business had revenue of $5.44 billion for the quarter, compared to analysts' expectations of $5.38 billion. Boston Scientific had a return on equity of 19.36% and a net margin of 17.50%.The company's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. Boston Scientific has set its Q3 2026 guidance at 0.800-0.820 EPS and its FY 2026 guidance at 3.280-3.320 EPS. As a group, research analysts expect that Boston Scientific Corporation will post 3.3 EPS for the current fiscal year.

Boston Scientific announced that its board has initiated a share repurchase plan on Monday, May 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BSX. Piper Sandler reaffirmed an "overweight" rating and issued a $65.00 target price on shares of Boston Scientific in a report on Friday, June 12th. Robert W. Baird set a $56.00 price objective on shares of Boston Scientific in a report on Thursday, July 30th. Weiss Ratings cut shares of Boston Scientific from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 7th. The Goldman Sachs Group set a $71.00 price target on Boston Scientific in a research note on Thursday, May 28th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $57.00 price objective on shares of Boston Scientific in a report on Thursday, July 30th. Twenty-four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $71.62.

Institutional Trading of Boston Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FWL Investment Management LLC acquired a new position in Boston Scientific during the second quarter worth approximately $26,000. Swiss RE Ltd. acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Boston Scientific during the first quarter worth approximately $28,000. Finally, Sfam LLC purchased a new position in shares of Boston Scientific during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 89.07% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source