BlackRock Inc. Takes Position in Boston Scientific Corporation $BSX

Key Points

• BlackRock acquired 129.7 million Boston Scientific shares worth approximately $5.53 billion, making it the company’s largest disclosed institutional holder with an 8.95% stake. Institutional investors collectively own 89.07% of BSX.
• Boston Scientific exceeded quarterly expectations, reporting $0.86 in EPS versus the $0.83 consensus and $5.44 billion in revenue, up 7.5% year over year. The company also authorized a $5 billion share repurchase program, covering up to 6.4% of outstanding shares.
• Analysts maintain a “Moderate Buy” consensus with a $71.62 price target, although ratings and targets were mixed. CEO Michael Mahoney and Director David Habiger also purchased company shares, contributing to nearly $9.8 million in insider buying during the quarter.

BlackRock Inc. bought a new stake in Boston Scientific Corporation (NYSE:BSX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 129,680,916 shares of the medical equipment provider's stock, valued at approximately $5,534,781,000. BlackRock Inc. owned 8.95% of Boston Scientific at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Renaissance Group LLC acquired a new stake in Boston Scientific during the fourth quarter worth about $28,064,000. Y Intercept Hong Kong Ltd lifted its holdings in Boston Scientific by 148.8% in the second quarter. Y Intercept Hong Kong Ltd now owns 1,120,331 shares of the medical equipment provider's stock valued at $47,816,000 after acquiring an additional 670,060 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab lifted 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 valued at $13,659,000 after acquiring an additional 28,961 shares during the period. Meiji Yasuda America Inc purchased a new stake in Boston Scientific in the 4th quarter worth approximately $4,708,000. Finally, S&CO Inc. purchased a new stake in Boston Scientific in the 2nd quarter worth approximately $7,246,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Stock Performance

BSX opened at $51.46 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 0.43. The company has a market cap of $74.58 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 1.13 and a beta of 0.56. Boston Scientific Corporation has a 52-week low of $42.20 and a 52-week high of $109.50. The firm's fifty day simple moving average is $46.12 and its two-hundred day simple moving average is $58.81.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The business had revenue of $5.44 billion for 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 company's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the business 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. Equities analysts anticipate that Boston Scientific Corporation will post 3.3 earnings per share for the current fiscal year.

Boston Scientific declared that its board has approved a stock buyback plan on Monday, May 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical equipment provider to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have weighed in on BSX. Zacks Research cut shares of Boston Scientific from a "hold" rating to a "strong sell" rating in a report on Friday, June 5th. Argus reissued a "hold" rating on shares of Boston Scientific in a research note on Friday, July 31st. Jefferies Financial Group dropped their target price on Boston Scientific from $100.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. Piper Sandler restated an "overweight" rating and issued a $65.00 price target on shares of Boston Scientific in a research note on Friday, June 12th. Finally, Robert W. Baird set a $56.00 price target on Boston Scientific in a report on Thursday, July 30th. Twenty-four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $71.62.

Insider Transactions at Boston Scientific

In other news, Director David C. Habiger bought 2,100 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were acquired at an average price of $47.59 per share, for a total transaction of $99,939.00. Following the completion of the transaction, the director directly owned 17,160 shares in the company, valued at $816,644.40. The trade was a 13.94% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael F. Mahoney purchased 186,240 shares of the stock in a transaction dated Monday, August 3rd. The stock was purchased at an average cost of $48.33 per share, for a total transaction of $9,000,979.20. Following the completion of the purchase, the chief executive officer directly owned 1,590,024 shares of the company's stock, valued at approximately $76,845,859.92. The trade was a 13.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 202,122 shares of company stock valued at $9,813,931. 0.34% of the stock is currently owned by corporate insiders.

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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