ABN AMRO Bank N.V. Has $27.73 Million Stake in Boston Scientific Corporation $BSX

Key Points

• ABN AMRO Bank N.V. reduced its Boston Scientific stake by 23.5% in the first quarter, leaving it with 438,340 shares valued at about $27.73 million.
• Boston Scientific reported better-than-expected Q1 results, with EPS of $0.80 and revenue of $5.20 billion, while revenue grew 11.6% year over year.
• The company’s board authorized a $5 billion share repurchase plan, and analysts currently rate the stock Moderate Buy with an average price target of $83.36.

ABN AMRO Bank N.V. cut its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 23.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 438,340 shares of the medical equipment provider's stock after selling 134,842 shares during the quarter. ABN AMRO Bank N.V.'s holdings in Boston Scientific were worth $27,731,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of BSX. FWL Investment Management LLC purchased a new stake in Boston Scientific in the 2nd quarter valued at $26,000. Swiss RE Ltd. bought a new position in shares of Boston Scientific in the fourth quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $26,000. Bangor Savings Bank lifted its holdings in Boston Scientific by 94.7% during the fourth quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 142 shares during the period. Finally, Board of the Pension Protection Fund bought a new stake in Boston Scientific during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Buying and Selling

In other Boston Scientific news, Director Cheryl Pegus purchased 1,770 shares of the company's stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the transaction, the director owned 1,770 shares in the company, valued at $99,987.30. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig acquired 3,580 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $56.68 per share, with a total value of $202,914.40. Following the acquisition, the director directly owned 25,359 shares of the company's stock, valued at $1,437,348.12. This represents a 16.44% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 9,800 shares of company stock worth $554,012 over the last ninety days. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Raymond James Financial restated an "outperform" rating and issued a $88.00 price objective (down from $97.00) on shares of Boston Scientific in a research note on Monday, March 30th. Daiwa Securities Group cut Boston Scientific from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 29th. Piper Sandler reissued an "overweight" rating and issued a $65.00 price target on shares of Boston Scientific in a report on Friday, June 12th. Stifel Nicolaus reduced their price target on shares of Boston Scientific from $75.00 to $65.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $77.00 price objective on shares of Boston Scientific in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Boston Scientific currently has a consensus rating of "Moderate Buy" and an average target price of $83.36.

Boston Scientific Stock Performance

NYSE BSX opened at $44.16 on Friday. The company's 50 day simple moving average is $52.87 and its two-hundred day simple moving average is $71.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22. Boston Scientific Corporation has a 1 year low of $43.89 and a 1 year high of $109.50. The stock has a market capitalization of $65.64 billion, a PE ratio of 18.48, a P/E/G ratio of 0.85 and a beta of 0.56.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.01. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.19 billion. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The business's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 EPS. Boston Scientific has set its Q2 2026 guidance at 0.820-0.840 EPS and its FY 2026 guidance at 3.340-3.410 EPS. Analysts predict that Boston Scientific Corporation will post 3.36 earnings per share for the current fiscal year.

Boston Scientific announced that its Board of Directors has authorized 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 repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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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