Assenagon Asset Management S.A. Cuts Stock Position in Boston Scientific Corporation $BSX

Key Points

• Assenagon Asset Management cut its Boston Scientific position by 58.5% in the second quarter, selling 5.88 million shares and retaining 4.17 million shares worth approximately $178.1 million. Institutional investors collectively own 89.07% of the stock.
• Analyst sentiment remains positive but price targets have declined: 24 analysts rate BSX a Buy, five a Hold and two a Sell, producing a “Moderate Buy” consensus and an average target of $71.62.
• Boston Scientific beat quarterly estimates with $0.86 in EPS and $5.44 billion in revenue, while insiders purchased about $9.84 million of stock over 90 days. The company also authorized a $5 billion share-buyback program covering up to 6.4% of outstanding shares.

Assenagon Asset Management S.A. cut its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 58.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,173,559 shares of the medical equipment provider's stock after selling 5,884,377 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.28% of Boston Scientific worth $178,127,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities analysts recently commented on BSX shares. Daiwa Securities Group lowered shares of Boston Scientific from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 29th. Wells Fargo & Company lowered their price target on shares of 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. Stifel Nicolaus set a $60.00 price target on shares of Boston Scientific in a research report on Wednesday, July 29th. Mizuho cut their price target on shares of Boston Scientific from $90.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $60.00 price objective on shares of Boston Scientific in a research note on Thursday, July 30th. Twenty-four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $71.62.

Insider Activity

In other news, Director David C. Habiger acquired 2,250 shares of the stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average cost of $55.92 per share, with a total value of $125,820.00. Following the completion of the purchase, the director owned 13,878 shares in the company, valued at approximately $776,057.76. The trade was a 19.35% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael F. Mahoney bought 186,240 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were purchased at an average price of $48.33 per share, with a total value 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. This trade represents a 13.27% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 202,222 shares of company stock worth $9,839,282 over the last ninety days. 0.34% of the stock is owned by insiders.

Boston Scientific Stock Up 3.0%

Shares of Boston Scientific stock opened at $49.19 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.22 and a current ratio of 1.24. Boston Scientific Corporation has a 52-week low of $42.20 and a 52-week high of $109.50. The company's 50 day moving average price is $45.73 and its 200-day moving average price is $60.81. The stock has a market capitalization of $71.28 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 1.04 and a beta of 0.56.

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, beating analysts' consensus estimates of $0.83 by $0.03. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.38 billion. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The firm's revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. 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 forecast that Boston Scientific Corporation will post 3.3 EPS for the current year.

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