Fisher Funds Management LTD Acquires 490,387 Shares of Boston Scientific Corporation $BSX

Key Points

• Fisher Funds Management increased its Boston Scientific stake by 132.3% in the first quarter, buying 490,387 shares and lifting its total holding to 860,964 shares worth about $54.0 million.
• Boston Scientific reported better-than-expected Q1 earnings, with EPS of $0.80 versus $0.79 expected and revenue of $5.20 billion, up 11.6% year over year.
• The company’s board approved a $5 billion share repurchase program, while analysts maintain a Moderate Buy consensus with an average price target of $85.08.

Fisher Funds Management LTD grew its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 132.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 860,964 shares of the medical equipment provider's stock after buying an additional 490,387 shares during the period. Boston Scientific accounts for 1.6% of Fisher Funds Management LTD's portfolio, making the stock its 19th biggest position. Fisher Funds Management LTD owned approximately 0.06% of Boston Scientific worth $54,025,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in Boston Scientific in the fourth quarter valued at $2,199,395,000. Egerton Capital UK LLP raised its holdings in Boston Scientific by 223.7% in the 3rd quarter. Egerton Capital UK LLP now owns 5,312,504 shares of the medical equipment provider's stock worth $518,660,000 after purchasing an additional 3,671,548 shares in the last quarter. Maverick Capital Ltd. bought a new position in Boston Scientific in the 4th quarter worth $280,735,000. Farallon Capital Management LLC lifted its position in shares of Boston Scientific by 56.7% in the 4th quarter. Farallon Capital Management LLC now owns 7,439,564 shares of the medical equipment provider's stock worth $709,362,000 after purchasing an additional 2,693,007 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Boston Scientific by 31.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,035,628 shares of the medical equipment provider's stock worth $1,052,247,000 after purchasing an additional 2,668,230 shares during the period. Institutional investors own 89.07% of the company's stock.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $45.30 on Monday. Boston Scientific Corporation has a 1 year low of $44.44 and a 1 year high of $109.50. The firm's 50-day moving average is $54.71 and its 200 day moving average is $72.83. The stock has a market cap of $67.33 billion, a price-to-earnings ratio of 18.95, a PEG ratio of 0.87 and a beta of 0.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.01. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.19 billion. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. Boston Scientific's revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $0.75 EPS. 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. Sell-side analysts anticipate that Boston Scientific Corporation will post 3.36 EPS for the current fiscal year.

Boston Scientific declared that its Board of Directors has initiated a share repurchase 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 purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, Director David C. Habiger purchased 2,250 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the completion of the acquisition, the director directly owned 13,878 shares in the company, valued at $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 this hyperlink. Also, Director Edward J. Ludwig acquired 3,580 shares of the firm's stock in a transaction that occurred on 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 completion of the acquisition, the director owned 25,359 shares in the company, valued at $1,437,348.12. The trade was a 16.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 9,800 shares of company stock worth $554,012 over the last 90 days. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BSX has been the topic of a number of research reports. Oppenheimer set a $90.00 target price on shares of Boston Scientific in a research note on Thursday, April 23rd. UBS Group decreased their price target on shares of Boston Scientific from $120.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday, March 17th. Daiwa Securities Group lowered shares of Boston Scientific from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 29th. Truist Financial cut their price objective on Boston Scientific from $85.00 to $64.00 and set a "buy" rating on the stock in a research report on Thursday, June 4th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $77.00 target price on shares of Boston Scientific in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $85.08.

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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