20,692 Shares in Boston Scientific Corporation $BSX Acquired by Perigon Wealth Management LLC

Key Points

• Perigon Wealth Management acquired 20,692 Boston Scientific shares worth approximately $883,000 during the second quarter. Institutional investors own 89.07% of the company, with several other firms increasing their positions.
• Boston Scientific exceeded quarterly expectations with adjusted EPS of $0.86 versus $0.83 expected and revenue of $5.44 billion, up 7.5% year over year. The board also approved a $5 billion stock-repurchase plan covering up to 6.4% of outstanding shares.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $71.62, while CEO Michael Mahoney and director David Habiger collectively purchased more than $9 million of company stock over the past 90 days.

Perigon Wealth Management LLC purchased a new stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 20,692 shares of the medical equipment provider's stock, valued at approximately $883,000.

Several other large investors have also recently made changes to their positions in the business. Brighton Jones LLC raised its holdings in Boston Scientific by 0.8% during the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock valued at $2,445,000 after buying an additional 226 shares during the last quarter. FWL Investment Management LLC bought a new stake in Boston Scientific in the 2nd quarter worth $26,000. Main Street Financial Solutions LLC increased its position in shares of Boston Scientific by 35.3% in the second quarter. Main Street Financial Solutions LLC now owns 7,556 shares of the medical equipment provider's stock valued at $812,000 after acquiring an additional 1,971 shares during the period. Ieq Capital LLC raised its stake in shares of Boston Scientific by 97.0% during the second quarter. Ieq Capital LLC now owns 123,592 shares of the medical equipment provider's stock valued at $13,275,000 after acquiring an additional 60,860 shares during the last quarter. Finally, HUB Investment Partners LLC raised its stake in shares of Boston Scientific by 56.2% during the second quarter. HUB Investment Partners LLC now owns 7,102 shares of the medical equipment provider's stock valued at $763,000 after acquiring an additional 2,556 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Down 1.8%

NYSE BSX opened at $50.51 on Wednesday. Boston Scientific Corporation has a 12 month low of $42.20 and a 12 month high of $109.50. The stock has a market cap of $73.20 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.13 and a beta of 0.56. The stock's fifty day moving average price is $46.15 and its 200-day moving average price is $58.50. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43.

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

Boston Scientific announced that its board has approved a stock repurchase plan on Monday, May 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical equipment provider to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

BSX has been the subject of several research analyst reports. Evercore set a $65.00 price objective on Boston Scientific in a report on Monday, July 6th. Royal Bank Of Canada reduced their target price on Boston Scientific from $85.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, July 30th. Wolfe Research downgraded Boston Scientific from an "outperform" rating to a "peer perform" rating in a report on Friday, May 29th. Wells Fargo & Company dropped their price target on Boston Scientific from $55.00 to $50.00 and set an "equal weight" rating for the company in a research note on Thursday, July 30th. Finally, Robert W. Baird set a $56.00 price objective on shares of Boston Scientific in a research report on Thursday, July 30th. Twenty-four research 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's stock. According to data from MarketBeat, Boston Scientific has an average rating of "Moderate Buy" and an average target price of $71.62.

Insider Buying and Selling

In related news, Director David C. Habiger purchased 2,100 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The stock was bought at an average price of $47.59 per share, for a total transaction of $99,939.00. Following the completion of the transaction, the director owned 17,160 shares in the company, valued at approximately $816,644.40. The trade was a 13.94% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael F. Mahoney acquired 186,240 shares of the company's stock in a transaction on Monday, August 3rd. The shares were purchased at an average cost of $48.33 per share, with a total value of $9,000,979.20. Following the completion of the purchase, the chief executive officer directly owned 1,590,024 shares of the company's stock, valued at $76,845,859.92. This trade represents a 13.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 194,522 shares of company stock worth $9,385,210. 0.34% of the stock is owned by corporate insiders.

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.

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