Bank of New York Mellon Corp Makes New Investment in Boston Scientific Corporation $BSX

Key Points

• Bank of New York Mellon acquired 7.94 million Boston Scientific shares worth approximately $339 million, representing a 0.55% stake. Institutional investors and hedge funds collectively own 89.07% of the company.
• Company insiders bought 194,522 shares worth about $9.4 million over the past 90 days, including substantial purchases by CEO Michael Mahoney and Director David Habiger.
• Boston Scientific reported quarterly EPS of $0.86 and revenue of $5.44 billion, exceeding analyst estimates, while analysts maintain a “Moderate Buy” consensus with an average price target of $71.62.

Bank of New York Mellon Corp bought a new stake in Boston Scientific Corporation (NYSE:BSX - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,943,553 shares of the medical equipment provider's stock, valued at approximately $339,031,000. Bank of New York Mellon Corp owned 0.55% of Boston Scientific at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Outfitters Financial LLC lifted its stake in Boston Scientific by 0.5% in the fourth quarter. Outfitters Financial LLC now owns 24,027 shares of the medical equipment provider's stock valued at $2,291,000 after buying an additional 110 shares during the last quarter. CYBER HORNET ETFs LLC boosted its stake in Boston Scientific by 3.4% during the 3rd quarter. CYBER HORNET ETFs LLC now owns 4,004 shares of the medical equipment provider's stock worth $391,000 after purchasing an additional 132 shares during the period. Gerber Kawasaki Wealth & Investment Management grew its position in Boston Scientific by 4.7% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 3,082 shares of the medical equipment provider's stock worth $294,000 after purchasing an additional 139 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Boston Scientific by 0.3% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 47,366 shares of the medical equipment provider's stock valued at $4,516,000 after buying an additional 140 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in shares of Boston Scientific by 2.4% during the fourth quarter. Kingsview Wealth Management LLC now owns 6,066 shares of the medical equipment provider's stock worth $578,000 after buying an additional 142 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Boston Scientific

In other news, Director David C. Habiger purchased 2,100 shares of Boston Scientific stock in a transaction that occurred on Wednesday, August 5th. The stock was acquired at an average price of $47.59 per share, for a total transaction of $99,939.00. Following the transaction, the director owned 17,160 shares in the company, valued at $816,644.40. The trade was a 13.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael F. Mahoney acquired 186,240 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer owned 1,590,024 shares in the company, valued at approximately $76,845,859.92. This represents a 13.27% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 194,522 shares of company stock valued at $9,385,210. Corporate insiders own 0.34% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on BSX shares. Zacks Research cut Boston Scientific from a "hold" rating to a "strong sell" rating in a research report on Friday, June 5th. Robert W. Baird set a $56.00 target price on shares of Boston Scientific in a research note on Thursday, July 30th. Wall Street Zen lowered shares of Boston Scientific from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Leerink Partners set a $60.00 target price on Boston Scientific in a research report on Thursday, July 30th. Finally, Bank of America reduced their price target on Boston Scientific from $105.00 to $68.00 and set a "buy" rating for the company in a report on Monday, May 18th. Twenty-four 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $71.62.

Boston Scientific Stock Up 2.1%

Shares of NYSE:BSX opened at $50.39 on Friday. 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 company's fifty day moving average is $46.34 and its two-hundred day moving average is $57.86. Boston Scientific Corporation has a 1-year low of $42.20 and a 1-year high of $109.50. The stock has a market capitalization of $73.03 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.38 billion. Boston Scientific had a return on equity of 19.28% and a net margin of 17.50%.The business's revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $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. Equities analysts anticipate that Boston Scientific Corporation will post 3.3 EPS for the current year.

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