114,625 Shares in Boston Scientific Corporation $BSX Acquired by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 114,625 Boston Scientific shares worth approximately $4.9 million, while institutional investors collectively own 89.07% of the company.
• Boston Scientific exceeded quarterly expectations, reporting $0.86 in EPS and $5.44 billion in revenue, up 7.5% year over year. The company also authorized a $5 billion share-repurchase program.
• Analysts maintain a “Moderate Buy” consensus with a $71.62 target price, despite several recent target reductions. Insider buying totaled 194,522 shares worth about $9.4 million over the past 90 days.

Empowered Funds LLC bought a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 114,625 shares of the medical equipment provider's stock, valued at approximately $4,892,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. FWL Investment Management LLC acquired a new position in shares of Boston Scientific during the 2nd quarter worth $26,000. Swiss RE Ltd. acquired a new stake in Boston Scientific in the fourth quarter valued at about $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in Boston Scientific in the fourth quarter valued at about $26,000. Sfam LLC bought a new position in Boston Scientific in the fourth quarter valued at about $29,000. Finally, Cresta Advisors Ltd. bought a new position in Boston Scientific in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

BSX has been the subject of several research reports. Zacks Research downgraded shares of Boston Scientific from a "hold" rating to a "strong sell" rating in a research note on Friday, June 5th. Evercore set a $65.00 target price on shares of Boston Scientific in a research note on Monday, July 6th. Truist Financial dropped their price target on Boston Scientific from $62.00 to $57.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Oppenheimer lowered their target price on Boston Scientific from $90.00 to $85.00 and set an "outperform" rating for the company in a report on Monday, July 27th. Finally, Royal Bank Of Canada dropped their target price on Boston Scientific from $85.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, July 30th. Twenty-four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $71.62.

Boston Scientific Stock Up 3.2%

Shares of Boston Scientific stock opened at $48.35 on Tuesday. The stock's 50-day moving average is $46.65 and its 200 day moving average is $56.35. Boston Scientific Corporation has a one year low of $42.20 and a one year high of $109.50. The firm has a market cap of $70.07 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.02 and a beta of 0.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 0.74.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. The business had revenue of $5.44 billion during the quarter, compared to analysts' expectations of $5.38 billion. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The business's quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company posted $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. Equities research analysts anticipate that Boston Scientific Corporation will post 3.3 EPS for the current year.

Boston Scientific announced that its Board of Directors has authorized a stock repurchase program on Monday, May 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig acquired 5,000 shares of the company's stock in a transaction on Friday, July 31st. The shares were acquired at an average cost of $45.48 per share, for a total transaction of $227,400.00. Following the purchase, the director owned 30,359 shares in the company, valued at approximately $1,380,727.32. The trade was a 19.72% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael F. Mahoney purchased 186,240 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were purchased at an average price of $48.33 per share, for a total transaction of $9,000,979.20. Following the completion of the acquisition, the chief executive officer owned 1,590,024 shares of the company's stock, valued at $76,845,859.92. The trade was a 13.27% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 194,522 shares of company stock valued at $9,385,210 over the last 90 days. Insiders own 0.34% of the company's stock.

Boston Scientific Company Profile

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.

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