Diamond Hill Capital Management LLC Investment Advisor Acquires New Position in Boston Scientific Corporation $BSX

Key Points

• Diamond Hill Capital Management acquired 157,829 Boston Scientific shares in the second quarter, valued at approximately $6.7 million. Institutional investors collectively own 89.07% of the company.
• Boston Scientific exceeded quarterly expectations, reporting $0.86 in EPS and $5.44 billion in revenue, with revenue up 7.5% year over year. The company authorized a $5 billion share-repurchase program, covering up to 6.4% of outstanding shares.
• Analysts maintain a generally positive view, with 24 Buy, five Hold, and two Sell ratings and an average price target of $71.62. However, several firms recently lowered their targets following the stock’s decline.

Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 157,829 shares of the medical equipment provider's stock, valued at approximately $6,736,000.

Several other institutional investors have also recently made changes to their positions in the company. Kelleher Financial Advisors acquired a new stake in Boston Scientific during the second quarter worth $25,000. FWL Investment Management LLC acquired a new position in shares of Boston Scientific in the 2nd quarter valued at $26,000. Swiss RE Ltd. purchased a new position in shares of Boston Scientific during the 4th quarter worth $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Boston Scientific during the 4th quarter worth $26,000. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Boston Scientific during the 1st quarter worth about $28,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Stock Down 0.7%

Shares of Boston Scientific stock opened at $51.46 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 0.43. 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 $74.58 billion, a P/E ratio of 20.83, a P/E/G ratio of 1.13 and a beta of 0.56. The company has a 50 day moving average of $46.12 and a 200 day moving average of $58.81.

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. Boston Scientific had a return on equity of 19.28% and a net margin of 17.50%.The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. Boston Scientific's revenue for the quarter was up 7.5% compared to the same quarter last year. 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. As a group, research analysts forecast that Boston Scientific Corporation will post 3.3 EPS for the current fiscal year.

Boston Scientific announced that its board has approved a stock buyback program on Monday, May 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical equipment provider to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

BSX has been the topic of a number of recent analyst reports. Royal Bank Of Canada decreased their target price on shares of Boston Scientific from $85.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, July 30th. UBS Group decreased their price target on Boston Scientific from $74.00 to $67.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Leerink Partners set a $60.00 price objective on Boston Scientific in a report on Thursday, July 30th. Bank of America cut their price target on shares of Boston Scientific from $105.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, May 18th. Finally, Robert W. Baird set a $56.00 price target on shares of Boston Scientific in a research report 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $71.62.

Insiders Place Their Bets

In related news, Director David C. Habiger bought 2,250 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $55.92 per share, with a total value of $125,820.00. Following the transaction, the director directly owned 13,878 shares of the company's stock, valued at approximately $776,057.76. This represents a 19.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edward J. Ludwig acquired 5,000 shares of the company's stock in a transaction on Friday, July 31st. The shares were purchased at an average cost of $45.48 per share, for a total transaction of $227,400.00. Following the acquisition, the director owned 30,359 shares of the company's stock, valued at approximately $1,380,727.32. The trade was a 19.72% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 202,122 shares of company stock valued at $9,813,931. 0.34% of the stock is owned by company insiders.

About Boston Scientific

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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