Boston Scientific Corporation $BSX Shares Sold by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB cut its Boston Scientific stake by 91.4% in the second quarter, selling 541,890 shares and retaining 51,275 shares valued at approximately $2.19 million. Institutional investors and hedge funds collectively own 89.07% of the company.
• Despite the institutional sale, company insiders bought 204,322 shares worth nearly $9.94 million over the past 90 days, including significant purchases by CEO Michael F. Mahoney and Director Edward J. Ludwig.
• Boston Scientific reported quarterly earnings and revenue above analyst expectations, with revenue up 7.5% year over year. Analysts maintain a “Moderate Buy” consensus with a $71.62 target price, while the company has authorized a $5 billion share buyback.

E. Ohman J or Asset Management AB cut its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 91.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,275 shares of the medical equipment provider's stock after selling 541,890 shares during the quarter. E. Ohman J or Asset Management AB's holdings in Boston Scientific were worth $2,188,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Norges Bank acquired a new stake in Boston Scientific in the 4th quarter valued at $2,199,395,000. Assenagon Asset Management S.A. increased its holdings in Boston Scientific by 133.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,057,936 shares of the medical equipment provider's stock worth $631,135,000 after acquiring an additional 5,751,760 shares in the last quarter. Janus Henderson Group PLC raised its position in Boston Scientific by 31.0% during the first quarter. Janus Henderson Group PLC now owns 16,497,366 shares of the medical equipment provider's stock worth $1,035,202,000 after acquiring an additional 3,907,981 shares during the period. Maverick Capital Ltd. purchased a new position in Boston Scientific during the fourth quarter valued at $280,735,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Boston Scientific by 25.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 13,891,668 shares of the medical equipment provider's stock valued at $871,702,000 after purchasing an additional 2,856,040 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Michael F. Mahoney purchased 186,240 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was purchased 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. This trade represents a 13.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward J. Ludwig acquired 5,000 shares of Boston Scientific stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average price of $45.48 per share, for a total transaction of $227,400.00. Following the transaction, the director owned 30,359 shares of the company's stock, valued at $1,380,727.32. This represents a 19.72% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 204,322 shares of company stock valued at $9,939,221 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Bank of America cut their target price on shares of Boston Scientific from $105.00 to $68.00 and set a "buy" rating for the company in a research note on Monday, May 18th. Citigroup lowered their price objective on Boston Scientific from $70.00 to $61.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Stifel Nicolaus set a $60.00 price objective on Boston Scientific in a research note on Wednesday, July 29th. Oppenheimer decreased their target price on Boston Scientific from $90.00 to $85.00 and set an "outperform" rating on the stock in a research report on Monday, July 27th. Finally, Evercore set a $65.00 price target on Boston Scientific in a research note on Monday, July 6th. Twenty-four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.62.

Boston Scientific Stock Performance

BSX opened at $51.19 on Wednesday. The firm has a market capitalization of $74.19 billion, a PE ratio of 20.73, a PEG ratio of 1.10 and a beta of 0.56. Boston Scientific Corporation has a twelve month low of $42.20 and a twelve month high of $109.50. The firm's 50-day moving average price is $45.87 and its 200 day moving average price is $59.97. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.38 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. Boston Scientific'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. As a group, sell-side analysts expect that Boston Scientific Corporation will post 3.3 EPS for the current fiscal year.

Boston Scientific announced that its board has initiated a stock buyback program on Monday, May 18th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical equipment provider to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are typically 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.

Want to see what other hedge funds are holding BSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Scientific Corporation (NYSE:BSX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source