Bowen Hanes & Co. Inc. Sells 28,655 Shares of Boston Scientific Corporation $BSX

Key Points

• Bowen Hanes & Co. Inc. cut its Boston Scientific stake by 68.5% in the fourth quarter, selling 28,655 shares and ending with 13,170 shares worth about $1.26 million.
• Several Boston Scientific insiders bought shares recently, including directors David C. Habiger and Edward J. Ludwig, and insiders purchased 9,800 shares total last quarter.
• Analysts remain generally positive but have trimmed targets: the stock has a Moderate Buy consensus rating with an average price target of $86.79, while Boston Scientific also authorized a $5 billion share buyback.

Bowen Hanes & Co. Inc. lowered its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 68.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,170 shares of the medical equipment provider's stock after selling 28,655 shares during the period. Bowen Hanes & Co. Inc.'s holdings in Boston Scientific were worth $1,256,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BSX. Brighton Jones LLC raised its stake in shares of Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock valued at $2,445,000 after acquiring an additional 226 shares during the last quarter. FWL Investment Management LLC bought a new position in shares of Boston Scientific in the second quarter valued at approximately $26,000. Main Street Financial Solutions LLC raised its stake in shares of Boston Scientific by 35.3% in the second quarter. Main Street Financial Solutions LLC now owns 7,556 shares of the medical equipment provider's stock valued at $812,000 after acquiring an additional 1,971 shares during the last quarter. Ieq Capital LLC raised its stake in shares of Boston Scientific by 97.0% in the second quarter. Ieq Capital LLC now owns 123,592 shares of the medical equipment provider's stock valued at $13,275,000 after acquiring an additional 60,860 shares during the last quarter. Finally, HUB Investment Partners LLC raised its stake in shares of Boston Scientific by 56.2% in the second quarter. HUB Investment Partners LLC now owns 7,102 shares of the medical equipment provider's stock valued at $763,000 after acquiring an additional 2,556 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Insider Activity

In other news, Director David C. Habiger purchased 2,250 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $55.92 per share, with a total value of $125,820.00. Following the acquisition, the director directly owned 13,878 shares of the company's stock, valued at approximately $776,057.76. This represents a 19.35% 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, Director Edward J. Ludwig purchased 3,580 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average cost of $56.68 per share, with a total value of $202,914.40. Following the acquisition, the director directly owned 25,359 shares in the company, valued at $1,437,348.12. This trade represents a 16.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 9,800 shares of company stock valued at $554,012 in the last quarter. Company insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BSX shares. Wall Street Zen lowered shares of Boston Scientific from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. JPMorgan Chase & Co. reduced their price objective on Boston Scientific from $135.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, February 5th. Barclays lowered their target price on Boston Scientific from $96.00 to $89.00 and set an "overweight" rating for the company in a research note on Thursday, May 28th. Daiwa Securities Group downgraded Boston Scientific from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 29th. Finally, Mizuho decreased their price target on Boston Scientific from $115.00 to $90.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Boston Scientific presently has a consensus rating of "Moderate Buy" and an average target price of $86.79.

Boston Scientific Price Performance

BSX opened at $47.79 on Thursday. The company has a fifty day moving average price of $58.92 and a two-hundred day moving average price of $77.28. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90. Boston Scientific Corporation has a 52 week low of $47.17 and a 52 week high of $109.50. The firm has a market capitalization of $71.03 billion, a PE ratio of 19.99, a P/E/G ratio of 0.89 and a beta of 0.56.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly 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 company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the business earned $0.75 EPS. The firm's revenue was up 11.6% on a year-over-year basis. 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. As a group, analysts anticipate that Boston Scientific Corporation will post 3.37 earnings per share for the current year.

Boston Scientific declared that its Board of Directors has initiated a stock repurchase 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 buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

Boston Scientific 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.