Brasada Capital Management LP Purchases Shares of 61,699 Boston Scientific Corporation $BSX

Brasada Capital Management LP purchased a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 61,699 shares of the medical equipment provider's stock, valued at approximately $2,633,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BSX. BlackRock Inc. bought a new stake in Boston Scientific in the 2nd quarter worth approximately $5,534,781,000. Primecap Management Co. CA bought a new position in Boston Scientific during the second quarter valued at approximately $2,156,233,000. Norges Bank bought a new position in Boston Scientific during the fourth quarter valued at approximately $2,199,395,000. Jupiter Topco LLC purchased a new position in shares of Boston Scientific during the second quarter worth approximately $803,357,000. Finally, Bank of America Corp DE purchased a new position in shares of Boston Scientific during the second quarter worth approximately $556,026,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BSX has been the subject of a number of research reports. Argus reaffirmed a "hold" rating on shares of Boston Scientific in a research note on Friday, July 31st. Mizuho decreased their target price on shares of Boston Scientific from $90.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 15th. TD Cowen reissued a "buy" rating and issued a $56.00 price target on shares of Boston Scientific in a research note on Tuesday. UBS Group cut their price target on shares of Boston Scientific from $74.00 to $67.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada reduced their price objective on Boston Scientific from $85.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, July 30th. Twenty-four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Boston Scientific presently has a consensus rating of "Moderate Buy" and an average price target of $71.62.

Insider Buying and Selling at Boston Scientific

In other news, Director David C. Habiger acquired 2,100 shares of the firm's stock in a transaction on Wednesday, August 5th. The shares were purchased 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 owned 17,160 shares of the company's stock, valued at $816,644.40. The trade was a 13.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael F. Mahoney bought 186,240 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were 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 of the company's stock, valued at $76,845,859.92. This trade represents a 13.27% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 194,522 shares of company stock worth $9,385,210. 0.34% of the stock is currently owned by company insiders.

Key Stories Impacting Boston Scientific

Here are the key news stories impacting Boston Scientific this week:

• Positive Sentiment: Director Susan E. Morano reportedly purchased additional Boston Scientific shares, signaling confidence from an insider while the stock is near its recent lows. Top Boston Scientific Insider Makes Bold New Share Grab
• Neutral Sentiment: The company’s latest quarterly results had been stronger than expected, with adjusted EPS and revenue exceeding consensus estimates and revenue rising year over year. However, that earnings momentum may provide limited near-term support while the cyber incident remains unresolved.
• Negative Sentiment: Boston Scientific said the cyberattack disrupted information systems used to process customer orders and ship products worldwide. The company is working to restore access, but the timing of a full recovery remains unclear, raising the risk of shipment delays, lost sales, remediation costs and weaker near-term results. Boston Scientific hit by cyberattack, global operations affected
• Negative Sentiment: The cybersecurity disruption comes alongside reports of a cardiac-device recall, increasing investor concerns about operational reliability, regulatory exposure and pressure on Boston Scientific’s growth outlook. The company has not yet quantified the financial impact of either issue. Boston Scientific hit with cardiac device recall

Boston Scientific Stock Down 3.2%

Shares of Boston Scientific stock opened at $46.64 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. Boston Scientific Corporation has a 52-week low of $42.20 and a 52-week high of $109.50. The stock has a market capitalization of $67.59 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 1.05 and a beta of 0.56. The company's 50 day moving average price is $46.53 and its 200-day moving average price is $56.72.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.38 billion. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm 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 research analysts forecast that Boston Scientific Corporation will post 3.3 EPS for the current year.

Boston Scientific announced that its Board of Directors has authorized a share 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are 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.

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.

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