Fifth Third Bancorp grew its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 76.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 532,886 shares of the medical equipment provider's stock after purchasing an additional 230,377 shares during the quarter. Fifth Third Bancorp's holdings in Boston Scientific were worth $33,439,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of BSX. Brighton Jones LLC increased its position in Boston Scientific by 0.8% during the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after buying an additional 226 shares in the last quarter. FWL Investment Management LLC acquired a new position in shares of Boston Scientific in the second quarter worth $26,000. Main Street Financial Solutions LLC lifted its position in shares of Boston Scientific by 35.3% in the second quarter. Main Street Financial Solutions LLC now owns 7,556 shares of the medical equipment provider's stock valued at $812,000 after acquiring an additional 1,971 shares in the last quarter. Ieq Capital LLC lifted its position in shares of Boston Scientific by 97.0% in the second quarter. Ieq Capital LLC now owns 123,592 shares of the medical equipment provider's stock valued at $13,275,000 after acquiring an additional 60,860 shares in the last quarter. Finally, HUB Investment Partners LLC boosted its stake in shares of Boston Scientific by 56.2% during the second quarter. HUB Investment Partners LLC now owns 7,102 shares of the medical equipment provider's stock valued at $763,000 after acquiring an additional 2,556 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.
Boston Scientific Price Performance
Shares of Boston Scientific stock opened at $44.67 on Monday. Boston Scientific Corporation has a twelve month low of $42.25 and a twelve month high of $109.50. The stock has a market capitalization 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 current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. The business's fifty day moving average price is $49.41 and its 200 day moving average price is $67.50.
Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 EPS for the quarter, topping the consensus estimate of $0.79 by $0.01. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.19 billion. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The firm's revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 earnings per share. 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. As a group, research analysts anticipate that Boston Scientific Corporation will post 3.36 earnings per share for the current year.
Boston Scientific declared that its board has authorized a stock buyback plan on Monday, May 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.
Analyst Ratings Changes
A number of analysts recently commented on the company. The Goldman Sachs Group set a $71.00 price objective on Boston Scientific in a research report on Thursday, May 28th. Robert W. Baird set a $70.00 target price on shares of Boston Scientific in a report on Thursday, May 28th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Boston Scientific in a research note on Thursday, May 28th. Leerink Partners lowered their price target on shares of Boston Scientific from $87.00 to $74.00 and set an "outperform" rating for the company in a report on Thursday, May 28th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $55.00 price objective (down from $75.00) on shares of Boston Scientific in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $81.32.
Get Our Latest Research Report on Boston Scientific
Insider Transactions at Boston Scientific
In other news, Director Cheryl Pegus bought 1,770 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the acquisition, the director owned 1,770 shares of the company's stock, valued at $99,987.30. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Edward J. Ludwig bought 3,580 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $56.68 per share, with a total value of $202,914.40. Following the transaction, the director owned 25,359 shares in the company, valued at approximately $1,437,348.12. This represents a 16.44% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 9,800 shares of company stock worth $554,012. 0.34% of the stock is currently owned by company insiders.
Boston Scientific Company Profile
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Free Report)
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.
See Also
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