Cibc World Market Inc. Sells 123,244 Shares of Boston Scientific Corporation $BSX

Key Points

• Cibc World Market Inc. cut its Boston Scientific stake by 83% in the fourth quarter, selling 123,244 shares and leaving it with 25,232 shares worth about $2.41 million.
• Boston Scientific insiders have been buying stock, including directors Edward J. Ludwig and Cheryl Pegus, who recently purchased shares; insiders now own about 0.34% of the company.
• The company reported solid quarterly results, with earnings and revenue both slightly ahead of estimates, and it also authorized a $5 billion stock buyback plan while analysts keep a consensus rating of Moderate Buy.

Cibc World Market Inc. decreased its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 83.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,232 shares of the medical equipment provider's stock after selling 123,244 shares during the period. Cibc World Market Inc.'s holdings in Boston Scientific were worth $2,406,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp boosted its stake in Boston Scientific by 200.0% in the 3rd quarter. Murphy & Mullick Capital Management Corp now owns 255 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 170 shares in the last quarter. FWL Investment Management LLC bought a new position in Boston Scientific in the 2nd quarter worth about $26,000. Colonial Trust Co SC boosted its stake in Boston Scientific by 502.2% in the 3rd quarter. Colonial Trust Co SC now owns 277 shares of the medical equipment provider's stock worth $27,000 after purchasing an additional 231 shares in the last quarter. Bangor Savings Bank boosted its stake in Boston Scientific by 94.7% in the 4th quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 142 shares in the last quarter. Finally, Board of the Pension Protection Fund bought a new position in Boston Scientific in the 4th quarter worth about $29,000. Institutional investors own 89.07% of the company's stock.

Insider Activity

In other Boston Scientific news, Director Edward J. Ludwig purchased 3,580 shares of Boston Scientific stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average price of $56.68 per share, with a total value of $202,914.40. Following the transaction, the director directly owned 25,359 shares of the company's stock, valued at $1,437,348.12. This trade represents a 16.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cheryl Pegus purchased 1,770 shares of Boston Scientific stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $56.49 per share, with a total value of $99,987.30. Following the transaction, the director directly owned 1,770 shares in the company, valued at approximately $99,987.30. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 9,800 shares of company stock valued at $554,012 in the last quarter. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Robert W. Baird set a $70.00 target price on Boston Scientific in a research report on Thursday, May 28th. Truist Financial decreased their target price on Boston Scientific from $85.00 to $64.00 and set a "buy" rating for the company in a research report on Thursday, June 4th. Argus raised Boston Scientific to a "strong-buy" rating in a research report on Thursday, February 26th. Mizuho decreased their target price on Boston Scientific from $115.00 to $90.00 and set an "outperform" rating for the company in a research report on Monday, April 13th. Finally, Jefferies Financial Group decreased their target price on Boston Scientific from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $85.92.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $48.73 on Tuesday. Boston Scientific Corporation has a fifty-two week low of $47.17 and a fifty-two week high of $109.50. The business has a 50-day simple moving average of $57.68 and a two-hundred day simple moving average of $76.17. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90. The firm has a market cap of $72.42 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 0.91 and a beta of 0.56.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 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 firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. 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. On average, analysts expect that Boston Scientific Corporation will post 3.37 earnings per share for the current year.

Boston Scientific announced that its board has approved a stock buyback plan on Monday, May 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are generally 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.

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