Brookstone Capital Management Sells 233,448 Shares of Boston Scientific Corporation $BSX

Key Points

• Brookstone Capital Management cut its Boston Scientific position by 93.3%, selling 233,448 shares and retaining 16,783 shares valued at approximately $716,000. Institutional investors still own 89.07% of the company.
• Analysts maintain a consensus “Moderate Buy” rating, with 24 Buy, five Hold and two Sell ratings; the average price target is $71.62, despite several recent target reductions.
• Boston Scientific exceeded quarterly expectations with $0.86 EPS and $5.44 billion in revenue, while revenue rose 7.5% year over year. The company also authorized a $5 billion share-repurchase program covering up to 6.4% of outstanding shares.

Brookstone Capital Management decreased its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 93.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,783 shares of the medical equipment provider's stock after selling 233,448 shares during the quarter. Brookstone Capital Management's holdings in Boston Scientific were worth $716,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BSX. QRG Capital Management Inc. increased its stake in shares of Boston Scientific by 121.5% in the 2nd quarter. QRG Capital Management Inc. now owns 362,716 shares of the medical equipment provider's stock valued at $15,481,000 after buying an additional 198,951 shares during the period. Fisher Funds Management LTD raised its position in shares of Boston Scientific by 17.1% during the second quarter. Fisher Funds Management LTD now owns 1,007,864 shares of the medical equipment provider's stock worth $43,016,000 after acquiring an additional 146,900 shares during the last quarter. Congress Park Capital LLC acquired a new position in shares of Boston Scientific during the second quarter valued at $224,000. Portside Wealth Group LLC bought a new position in Boston Scientific in the second quarter valued at about $263,000. Finally, Trust Asset Management LLC boosted its holdings in Boston Scientific by 2.0% in the second quarter. Trust Asset Management LLC now owns 16,666 shares of the medical equipment provider's stock valued at $711,000 after acquiring an additional 333 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BSX has been the subject of several recent research reports. Wells Fargo & Company dropped their price objective on Boston Scientific from $55.00 to $50.00 and set an "equal weight" rating for the company in a report on Thursday, July 30th. Barclays reduced their target price on shares of Boston Scientific from $96.00 to $89.00 and set an "overweight" rating on the stock in a research note on Thursday, May 28th. Bank of America dropped their price target 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. Stifel Nicolaus set a $60.00 price objective on shares of Boston Scientific in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada reduced their price objective on shares of 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 issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $71.62.

Boston Scientific Trading Up 0.4%

NYSE:BSX opened at $51.40 on Thursday. 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 Corporation has a 1-year low of $42.20 and a 1-year high of $109.50. The firm has a market capitalization of $74.49 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.12 and a beta of 0.56. The business's 50-day moving average price is $45.94 and its two-hundred day moving average price is $59.69.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.38 billion. Boston Scientific had a return on equity of 19.28% and a net margin of 17.50%.The company's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 EPS. 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. On average, equities analysts expect that Boston Scientific Corporation will post 3.3 earnings per share for the current year.

Boston Scientific announced that its Board of Directors has initiated a stock repurchase program on Monday, May 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical equipment provider to purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other news, Director David C. Habiger bought 2,250 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $55.92 per share, with a total value of $125,820.00. Following the completion of the purchase, the director owned 13,878 shares of the company's stock, valued at approximately $776,057.76. This trade represents a 19.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Edward J. Ludwig bought 5,000 shares of the business's stock in a transaction on Friday, July 31st. The stock was purchased at an average price of $45.48 per share, for a total transaction of $227,400.00. Following the completion of the acquisition, the director owned 30,359 shares of the company's stock, valued at approximately $1,380,727.32. This trade represents a 19.72% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 204,322 shares of company stock worth $9,939,221 in the last ninety days. Company insiders own 0.34% of the company's stock.

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.

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