Commerce Bank Purchases New Stake in Boston Scientific Corporation $BSX

Commerce Bank purchased a new position in Boston Scientific Corporation (NYSE:BSX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 58,917 shares of the medical equipment provider's stock, valued at approximately $2,515,000.

Several other hedge funds and other institutional investors have also modified their holdings of BSX. BlackRock Inc. acquired a new stake in Boston Scientific during the second quarter worth about $5,534,781,000. Norges Bank acquired a new position in Boston Scientific in the fourth quarter valued at approximately $2,199,395,000. Bank of New York Mellon Corp acquired a new position in Boston Scientific in the second quarter valued at approximately $339,031,000. Deutsche Bank AG bought a new position in shares of Boston Scientific during the second quarter valued at approximately $254,247,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Boston Scientific by 133.6% during 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 purchasing an additional 5,751,760 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $48.98 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $46.38 and a 200-day simple moving average of $57.32. The company has a market cap of $70.99 billion, a PE ratio of 19.83, a P/E/G ratio of 1.10 and a beta of 0.56. Boston Scientific Corporation has a 12-month low of $42.20 and a 12-month high of $109.50.

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

Boston Scientific declared that its board has initiated a stock repurchase plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

BSX has been the topic of several recent research reports. The Goldman Sachs Group set a $71.00 price target on Boston Scientific in a report on Thursday, May 28th. Canaccord Genuity Group lowered their price objective on Boston Scientific from $70.00 to $66.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Weiss Ratings lowered Boston Scientific from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 7th. Raymond James Financial reiterated an "outperform" rating and issued a $57.00 target price on shares of Boston Scientific in a research note on Thursday, July 30th. Finally, Wall Street Zen downgraded shares of Boston Scientific from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $71.62.

Insider Activity

In related news, CEO Michael F. Mahoney bought 186,240 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The stock was purchased at an average price of $48.33 per share, for a total transaction of $9,000,979.20. Following the transaction, the chief executive officer directly owned 1,590,024 shares of the company's stock, valued at approximately $76,845,859.92. This represents a 13.27% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward J. Ludwig bought 5,000 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average price of $45.48 per share, with a total value of $227,400.00. Following the transaction, the director directly owned 30,359 shares in the company, valued at $1,380,727.32. This represents a 19.72% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 194,522 shares of company stock valued at $9,385,210. 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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