Boston Scientific Corporation $BSX Shares Purchased by Allstate Corp

Key Points

• Allstate Corp more than doubled its stake in Boston Scientific during the fourth quarter, buying an additional 57,769 shares and lifting its total holdings to 112,146 shares worth about $10.7 million.
• Boston Scientific reported better-than-expected quarterly results, including EPS of $0.80 on revenue of $5.20 billion, while also raising guidance for Q2 2026 and FY 2026.
• The company announced a $5 billion stock buyback, and recent insider buying by two directors suggests management sees value in the shares despite the stock trading well below its 52-week high.

Allstate Corp lifted its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 106.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 112,146 shares of the medical equipment provider's stock after acquiring an additional 57,769 shares during the quarter. Allstate Corp's holdings in Boston Scientific were worth $10,693,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BSX. Murphy & Mullick Capital Management Corp increased its stake in shares of Boston Scientific by 200.0% in the third quarter. Murphy & Mullick Capital Management Corp now owns 255 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 170 shares during the period. FWL Investment Management LLC acquired a new stake in Boston Scientific during the second quarter valued at $26,000. United Community Bank grew its position in Boston Scientific by 115.7% during the third quarter. United Community Bank now owns 274 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 147 shares during the period. Colonial Trust Co SC grew its position in Boston Scientific by 502.2% during the third quarter. Colonial Trust Co SC now owns 277 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 231 shares during the period. Finally, Bangor Savings Bank grew its position in Boston Scientific by 94.7% during the fourth quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 142 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Stock Down 0.1%

Shares of NYSE BSX opened at $57.71 on Tuesday. The company's 50-day simple moving average is $61.75 and its 200-day simple moving average is $79.83. Boston Scientific Corporation has a 52-week low of $52.52 and a 52-week high of $109.50. The firm has a market cap of $85.77 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 1.06 and a beta of 0.62. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.01. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business earned $0.75 earnings per share. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. Boston Scientific has set its Q2 2026 guidance at 0.820-0.840 EPS and its FY 2026 guidance at 3.340-3.410 EPS. Equities analysts predict that Boston Scientific Corporation will post 3.38 EPS for the current fiscal year.

Boston Scientific declared that its board has authorized a stock 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BSX. Argus upgraded shares of Boston Scientific to a "strong-buy" rating in a research report on Thursday, February 26th. Canaccord Genuity Group dropped their price target on shares of Boston Scientific from $109.00 to $71.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Royal Bank Of Canada dropped their price target on shares of Boston Scientific from $105.00 to $100.00 and set an "outperform" rating on the stock in a research report on Thursday, April 23rd. Citigroup dropped their price target on shares of Boston Scientific from $94.00 to $87.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Finally, Evercore dropped their price target on shares of Boston Scientific from $112.00 to $96.00 and set an "outperform" rating on the stock in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $92.71.

Insider Activity

In related news, Director David C. Habiger bought 2,250 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the completion of the transaction, the director directly owned 13,878 shares in the company, valued at $776,057.76. This trade represents a 19.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Ludwig purchased 3,580 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $56.68 per share, for a total transaction of $202,914.40. Following the completion of the purchase, the director owned 25,359 shares of the company's stock, valued at approximately $1,437,348.12. This represents a 16.44% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 9,800 shares of company stock worth $554,012 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

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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