Ally Financial Inc. Invests $2.82 Million in Boston Scientific Corporation $BSX

Ally Financial Inc. bought a new stake in Boston Scientific Corporation (NYSE:BSX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 66,000 shares of the medical equipment provider's stock, valued at approximately $2,817,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kelleher Financial Advisors acquired a new position in Boston Scientific in the 2nd quarter valued at about $25,000. FWL Investment Management LLC acquired a new stake in shares of Boston Scientific during the second quarter worth about $26,000. Swiss RE Ltd. purchased 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 position in shares of Boston Scientific in the fourth quarter valued at approximately $26,000. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Boston Scientific in the first quarter valued at approximately $28,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Trading Up 0.0%

NYSE:BSX opened at $50.39 on Monday. Boston Scientific Corporation has a 1 year low of $42.20 and a 1 year high of $109.50. The stock has a market cap of $73.03 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.10 and a beta of 0.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 1.24. The stock has a 50-day simple moving average of $46.34 and a 200-day simple moving average of $57.62.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. Boston Scientific had a return on equity of 19.28% and a net margin of 17.50%.The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.38 billion. During the same period in the prior year, the company posted $0.75 earnings per share. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. 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, analysts anticipate that Boston Scientific Corporation will post 3.3 earnings per share for the current fiscal year.

Boston Scientific announced that its Board of Directors has authorized a stock repurchase program on Monday, May 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical equipment provider to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insider Activity at Boston Scientific

In other news, CEO Michael F. Mahoney purchased 186,240 shares of the company'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 purchase, the chief executive officer directly owned 1,590,024 shares of the company's stock, valued at $76,845,859.92. This represents a 13.27% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David C. Habiger acquired 2,100 shares of Boston Scientific stock in a transaction on Wednesday, August 5th. The stock was purchased at an average price of $47.59 per share, with a total value of $99,939.00. Following the purchase, the director owned 17,160 shares of the company's stock, valued at $816,644.40. The trade was a 13.94% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 194,522 shares of company stock valued at $9,385,210 over the last ninety days. Insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on BSX. Argus reissued a "hold" rating on shares of Boston Scientific in a research report on Friday, July 31st. Mizuho cut their price objective on Boston Scientific from $90.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 15th. Robert W. Baird set a $56.00 price objective on Boston Scientific in a research note on Thursday, July 30th. Needham & Company LLC decreased their target price on Boston Scientific from $77.00 to $57.00 and set a "buy" rating for the company in a report on Wednesday, July 8th. Finally, Daiwa Securities Group cut Boston Scientific from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 29th. Twenty-four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Boston Scientific currently has a consensus rating of "Moderate Buy" and an average target price of $71.62.

Boston Scientific 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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