Castlefield Investment Partners LLP Buys New Shares in Boston Scientific Corporation $BSX

Key Points

• Castlefield Investment Partners bought 56,907 Boston Scientific shares worth approximately $2.43 million, making BSX 1.6% of its portfolio. Institutional investors collectively own 89.07% of the company.
• Company insiders purchased 194,522 shares worth $9.39 million during the last quarter, including acquisitions by directors Edward Ludwig and David Habiger.
• Boston Scientific beat quarterly earnings and revenue estimates, while analysts maintained a consensus “Moderate Buy” rating with a $71.62 target price. The company also authorized a $5 billion share-repurchase program.

Castlefield Investment Partners LLP bought a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 56,907 shares of the medical equipment provider's stock, valued at approximately $2,429,000. Boston Scientific makes up 1.6% of Castlefield Investment Partners LLP's holdings, making the stock its 26th biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BSX. Vanguard Group Inc. lifted its position in shares of Boston Scientific by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider's stock worth $13,319,060,000 after acquiring an additional 1,436,550 shares during the period. BlackRock Inc. bought a new stake in shares of Boston Scientific during the second quarter valued at approximately $5,534,781,000. State Street Corp increased its position in shares of Boston Scientific by 1.4% during the fourth quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider's stock valued at $6,278,422,000 after purchasing an additional 920,495 shares during the period. Capital World Investors raised its stake in shares of Boston Scientific by 1.9% in the fourth quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider's stock valued at $2,588,953,000 after purchasing an additional 502,627 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Boston Scientific in the fourth quarter valued at $2,199,395,000. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig bought 5,000 shares of the stock in a transaction dated Friday, July 31st. The stock was bought at an average cost of $45.48 per share, for a total transaction of $227,400.00. Following the completion of the purchase, the director owned 30,359 shares in the company, valued at $1,380,727.32. This represents a 19.72% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David C. Habiger purchased 2,100 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was acquired at an average cost of $47.59 per share, with a total value of $99,939.00. Following the completion of the acquisition, the director directly 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 SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 194,522 shares of company stock worth $9,385,210. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BSX. Citigroup dropped their price objective on shares of Boston Scientific from $70.00 to $61.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. BTIG Research lowered their target price on shares of Boston Scientific from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, July 29th. Evercore set a $65.00 price target on shares of Boston Scientific in a research report on Monday, July 6th. 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 note on Thursday, July 30th. Finally, Jefferies Financial Group decreased their price objective on Boston Scientific from $100.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, June 24th. Twenty-four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $71.62.

Boston Scientific Stock Up 0.0%

Shares of NYSE:BSX opened at $50.39 on Monday. The company's fifty day moving average is $46.34 and its 200-day moving average is $57.62. 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 company has a market capitalization of $73.03 billion, a PE ratio of 20.40, a P/E/G ratio of 1.10 and a beta of 0.56.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The firm had revenue of $5.44 billion during 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 quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm posted $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. Equities research analysts predict that Boston Scientific Corporation will post 3.3 earnings per share for the current fiscal year.

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

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