Candriam S.C.A. Has $79.16 Million Stake in Boston Scientific Corporation $BSX

Key Points

• Candriam S.C.A. increased its Boston Scientific stake by 11.6% in the first quarter, ending with 1.26 million shares valued at about $79.2 million.
• Institutional ownership remains heavy, with several large funds adding to BSX, and insiders also buying shares recently, including directors Edward J. Ludwig and Cheryl Pegus.
• Boston Scientific reported better-than-expected Q1 results, with EPS of $0.80 on $5.20 billion in revenue, and the company also authorized a $5 billion stock buyback.

Candriam S.C.A. raised its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 11.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,261,461 shares of the medical equipment provider's stock after acquiring an additional 131,623 shares during the quarter. Candriam S.C.A. owned about 0.08% of Boston Scientific worth $79,157,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Boston Scientific during the 4th quarter valued at about $2,199,395,000. Assenagon Asset Management S.A. lifted its stake in Boston Scientific by 133.6% in the first quarter. Assenagon Asset Management S.A. now owns 10,057,936 shares of the medical equipment provider's stock valued at $631,135,000 after buying an additional 5,751,760 shares during the period. Maverick Capital Ltd. acquired a new position in Boston Scientific in the fourth quarter valued at approximately $280,735,000. Farallon Capital Management LLC boosted its holdings in shares of Boston Scientific by 56.7% during the 4th quarter. Farallon Capital Management LLC now owns 7,439,564 shares of the medical equipment provider's stock worth $709,362,000 after buying an additional 2,693,007 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Boston Scientific by 31.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,035,628 shares of the medical equipment provider's stock worth $1,052,247,000 after buying an additional 2,668,230 shares during the period. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Edward J. Ludwig purchased 3,580 shares of the business's stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $56.68 per share, for a total transaction of $202,914.40. Following the purchase, the director owned 25,359 shares of the company's stock, valued at approximately $1,437,348.12. This trade represents a 16.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Cheryl Pegus acquired 1,770 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $56.49 per share, with a total value of $99,987.30. Following the completion of the acquisition, the director directly owned 1,770 shares in the company, valued at approximately $99,987.30. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 9,800 shares of company stock worth $554,012 in the last quarter. Insiders own 0.34% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on BSX shares. Leerink Partners dropped their target price on shares of Boston Scientific from $87.00 to $74.00 and set an "outperform" rating on the stock in a research report on Thursday, May 28th. Bank of America decreased 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. Wells Fargo & Company reiterated an "equal weight" rating and set a $55.00 price objective (down from $75.00) on shares of Boston Scientific in a report on Thursday, May 28th. Robert W. Baird set a $70.00 target price on Boston Scientific in a research note on Thursday, May 28th. Finally, Jefferies Financial Group decreased their target price on Boston Scientific from $100.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $81.32.

Boston Scientific Stock Performance

NYSE BSX opened at $44.67 on Friday. The company has a market cap of $66.40 billion, a P/E ratio of 18.69, a PEG ratio of 0.86 and a beta of 0.58. The company has a fifty day simple moving average of $49.41 and a 200 day simple moving average of $67.70. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. Boston Scientific Corporation has a 12-month low of $42.25 and a 12-month high of $109.50.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share for the quarter, topping 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 firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The business'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. Sell-side analysts predict that Boston Scientific Corporation will post 3.36 earnings per share for the current fiscal year.

Boston Scientific announced that its Board of Directors has initiated a stock buyback program on Monday, May 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical equipment provider to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is 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.

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.