Bank of America Corp DE Invests $556.03 Million in Boston Scientific Corporation $BSX

Key Points

• Bank of America acquired 13.03 million Boston Scientific shares worth approximately $556 million, representing about 0.90% of the company. Institutional investors collectively own 89.07% of BSX.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $71.46, despite some recent target reductions and a downgrade to “Hold.”
• Boston Scientific exceeded quarterly expectations, reporting $0.86 in EPS and $5.44 billion in revenue, while CEO Michael Mahoney and a director purchased a combined $9.23 million of shares over the past 90 days.

Bank of America Corp DE purchased a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 13,027,783 shares of the medical equipment provider's stock, valued at approximately $556,026,000. Bank of America Corp DE owned approximately 0.90% of Boston Scientific at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of BSX. State Street Corp boosted its position in shares of Boston Scientific by 1.4% in the 4th quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider's stock worth $6,278,422,000 after buying an additional 920,495 shares in the last quarter. BlackRock Inc. acquired a new stake in Boston Scientific in the 2nd quarter valued at about $5,534,781,000. Capital World Investors increased its holdings in Boston Scientific by 1.9% during the 4th quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider's stock valued at $2,588,953,000 after acquiring an additional 502,627 shares in the last quarter. Norges Bank acquired a new position in Boston Scientific during the fourth quarter worth about $2,199,395,000. Finally, Primecap Management Co. CA acquired a new position in Boston Scientific during the second quarter worth about $2,156,233,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Ratings Changes

BSX has been the subject of a number of recent research reports. Evercore set a $65.00 price objective on shares of Boston Scientific in a research note on Monday, July 6th. Royal Bank Of Canada dropped their price target on Boston Scientific from $85.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, July 30th. 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 set a $60.00 price objective on Boston Scientific in a research report on Wednesday, July 29th. Finally, Wall Street Zen lowered Boston Scientific from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Twenty-four 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $71.46.

Boston Scientific Stock Down 2.6%

Shares of NYSE:BSX opened at $43.87 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. The firm has a market cap of $63.58 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.04 and a beta of 0.57. The stock's 50-day moving average price is $46.97 and its two-hundred day moving average price is $54.10. Boston Scientific Corporation has a 12-month low of $42.20 and a 12-month high of $105.65.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The business had revenue of $5.44 billion for the quarter, compared to analysts' expectations of $5.38 billion. During the same period last year, the company earned $0.75 earnings per share. The company's quarterly revenue was up 7.5% on a year-over-year basis. 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. On average, research analysts forecast that Boston Scientific Corporation will post 3.29 EPS for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig acquired 5,000 shares of the firm's stock in a transaction on Friday, July 31st. The stock was bought at an average cost of $45.48 per share, for a total transaction of $227,400.00. Following the completion of the purchase, the director directly owned 30,359 shares in the company, valued at $1,380,727.32. This represents a 19.72% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael F. Mahoney acquired 186,240 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was acquired at an average cost of $48.33 per share, with a total value of $9,000,979.20. Following the transaction, the chief executive officer directly owned 1,590,024 shares of the company's stock, valued at approximately $76,845,859.92. This represents a 13.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 194,522 shares of company stock worth $9,385,210. 0.34% of the stock is owned by insiders.

Boston Scientific Profile

Boston Scientific Corporation is a medical device company that develops, manufactures and markets products used in minimally invasive procedures. Its technologies are designed to diagnose and treat a range of medical conditions while supporting less invasive alternatives to traditional surgery.

The company's products address cardiovascular, endoscopy, urology, pelvic health and neuromodulation applications. Its portfolio includes devices used in cardiac rhythm management and electrophysiology, structural heart procedures, peripheral and vascular interventions, gastrointestinal procedures, kidney stone and prostate treatments, and therapies for chronic pain and other neurological conditions.

Founded in 1979, Boston Scientific serves healthcare providers and patients in markets around the world.

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