Franklin Resources Inc. Lowers Holdings in Boston Scientific Corporation $BSX

Key Points

• Franklin Resources cut its Boston Scientific stake by 17.5% in the fourth quarter, selling 1.2 million shares and leaving it with about 5.68 million shares worth roughly $541.2 million.
• Boston Scientific reported solid quarterly results, with earnings of $0.80 per share and revenue of $5.20 billion, both slightly ahead of expectations, while revenue rose 11.6% year over year.
• The company also announced a $5 billion share buyback and saw recent insider buying by directors, even as analysts’ views were mixed with a consensus rating of Moderate Buy.

Franklin Resources Inc. trimmed its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 17.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,676,082 shares of the medical equipment provider's stock after selling 1,199,851 shares during the quarter. Franklin Resources Inc. owned approximately 0.38% of Boston Scientific worth $541,214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Claret Asset Management Corp boosted its position in shares of Boston Scientific by 4.4% during the third quarter. Claret Asset Management Corp now owns 2,400 shares of the medical equipment provider's stock worth $234,000 after acquiring an additional 102 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in Boston Scientific by 5.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,106 shares of the medical equipment provider's stock valued at $206,000 after acquiring an additional 103 shares in the last quarter. Outfitters Financial LLC increased its holdings in Boston Scientific by 0.5% in the 4th quarter. Outfitters Financial LLC now owns 24,027 shares of the medical equipment provider's stock valued at $2,291,000 after acquiring an additional 110 shares during the last quarter. Fayez Sarofim & Co lifted its stake in Boston Scientific by 2.1% in the 3rd quarter. Fayez Sarofim & Co now owns 5,327 shares of the medical equipment provider's stock worth $520,000 after purchasing an additional 111 shares in the last quarter. Finally, Natural Investments LLC boosted its holdings in shares of Boston Scientific by 2.9% during the 4th quarter. Natural Investments LLC now owns 4,036 shares of the medical equipment provider's stock valued at $384,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Insider Transactions at Boston Scientific

In other news, Director David C. Habiger bought 2,250 shares of the stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the acquisition, the director owned 13,878 shares of the company's stock, valued at $776,057.76. The trade was a 19.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Cheryl Pegus purchased 1,770 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the completion of the acquisition, the director directly owned 1,770 shares in the company, valued at $99,987.30. The trade was a ∞ 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 insiders.

Boston Scientific Stock Up 0.4%

Shares of NYSE:BSX opened at $48.73 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. Boston Scientific Corporation has a 12 month low of $47.17 and a 12 month high of $109.50. The company has a 50-day moving average price of $57.68 and a 200 day moving average price of $76.17. The company has a market cap of $72.42 billion, a price-to-earnings ratio of 20.39, a PEG 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 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. The company had revenue of $5.20 billion for 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%.Boston Scientific's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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. As a group, equities research analysts predict that Boston Scientific Corporation will post 3.37 earnings per share for the current year.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on BSX shares. Weiss Ratings lowered Boston Scientific from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 13th. Canaccord Genuity Group dropped their price target on Boston Scientific from $71.00 to $70.00 and set a "buy" rating for the company in a research note on Monday, June 1st. Wall Street Zen cut Boston Scientific from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Wolfe Research downgraded Boston Scientific from an "outperform" rating to a "peer perform" rating in a research note on Friday, May 29th. Finally, Argus raised Boston Scientific to a "strong-buy" rating in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $85.92.

Boston Scientific Company 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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