AXQ Capital LP Acquires 21,466 Shares of Boston Scientific Corporation $BSX

Key Points

• AXQ Capital increased its Boston Scientific stake by 21.5%, purchasing 21,466 shares to bring its holdings to 121,522 shares valued at approximately $5.19 million. Institutional investors own 89.07% of the company.
• Boston Scientific insiders bought 194,522 shares worth about $9.39 million over the past 90 days, including sizable purchases by CEO Michael Mahoney and Director David Habiger.
• Analysts maintain a consensus “Moderate Buy” rating with a $71.62 target price, despite recent target reductions. The company recently exceeded quarterly earnings and revenue expectations and authorized a $5 billion share-repurchase program.

AXQ Capital LP raised its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 21.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 121,522 shares of the medical equipment provider's stock after buying an additional 21,466 shares during the quarter. Boston Scientific comprises 0.6% of AXQ Capital LP's investment portfolio, making the stock its 18th largest position. AXQ Capital LP's holdings in Boston Scientific were worth $5,187,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Renaissance Group LLC purchased a new position in shares of Boston Scientific in the 4th quarter valued at approximately $28,064,000. Perigon Wealth Management LLC bought a new stake in shares of Boston Scientific during the 2nd quarter valued at $883,000. Y Intercept Hong Kong Ltd grew its position in shares of Boston Scientific by 148.8% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 1,120,331 shares of the medical equipment provider's stock worth $47,816,000 after buying an additional 670,060 shares during the period. Wealthfront Advisers LLC purchased a new stake in Boston Scientific in the second quarter worth about $3,253,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in Boston Scientific by 9.9% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 320,038 shares of the medical equipment provider's stock worth $13,659,000 after purchasing an additional 28,961 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boston Scientific

In other news, CEO Michael Mahoney bought 186,240 shares of the stock in a transaction on Monday, August 3rd. The shares were bought 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 in the company, valued at $76,845,859.92. The trade was a 13.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Habiger purchased 2,100 shares of Boston Scientific stock in a transaction dated Wednesday, August 5th. The shares were acquired at an average cost of $47.59 per share, with a total value of $99,939.00. Following the transaction, the director directly owned 17,160 shares in the company, valued at approximately $816,644.40. The trade was a 13.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 194,522 shares of company stock worth $9,385,210. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BSX shares. Royal Bank Of Canada lowered their target price on shares of Boston Scientific from $85.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, July 30th. Weiss Ratings downgraded Boston Scientific from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 7th. TD Cowen reissued a "buy" rating and issued a $56.00 target price on shares of Boston Scientific in a report on Tuesday, August 25th. Zacks Research cut Boston Scientific from a "hold" rating to a "strong sell" rating in a research note on Friday, June 5th. Finally, Truist Financial dropped their price target on shares of Boston Scientific from $62.00 to $57.00 and set a "buy" rating on the stock 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.62.

Boston Scientific Price Performance

BSX opened at $46.93 on Friday. The company's 50-day simple moving average is $46.83 and its two-hundred day simple moving average is $55.79. 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 market capitalization of $68.01 billion, a P/E ratio of 19.00, a P/E/G ratio of 1.12 and a beta of 0.57. Boston Scientific Corporation has a 52-week low of $42.20 and a 52-week high of $109.50.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share for the quarter, beating 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 net margin of 17.50% and a return on equity of 19.28%. The firm's quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the company 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, analysts predict that Boston Scientific Corporation will post 3.3 EPS for the current year.

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

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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