Freestone Grove Partners LP Buys New Holdings in Boston Scientific Corporation $BSX

Key Points

• Freestone Grove Partners initiated a Boston Scientific position by purchasing 28,720 shares worth approximately $1.23 million. Institutional investors collectively own 89.07% of the company.
• Boston Scientific exceeded quarterly expectations, reporting $0.86 in EPS versus the $0.83 consensus and $5.44 billion in revenue, up 7.5% year over year. The company issued third-quarter and full-year 2026 earnings guidance.
• Analysts maintain a consensus “Moderate Buy” rating with a $71.62 price target, while the stock recently traded at $46.82. The company also authorized a $5 billion share-repurchase program, and insiders—including CEO Michael Mahoney—recently bought shares.

Freestone Grove Partners LP purchased a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 28,720 shares of the medical equipment provider's stock, valued at approximately $1,226,000.

Other large investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Boston Scientific during the second quarter valued at approximately $5,534,781,000. State Street Corp increased its stake in shares of Boston Scientific by 1.4% in the fourth quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider's stock worth $6,278,422,000 after buying an additional 920,495 shares during the period. Primecap Management Co. CA bought a new stake in Boston Scientific during the 2nd quarter valued at $2,156,233,000. Capital World Investors raised its holdings in Boston Scientific by 1.9% during the 4th quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider's stock valued at $2,588,953,000 after buying an additional 502,627 shares during the last quarter. Finally, Norges Bank bought a new stake in Boston Scientific during the 4th quarter valued at $2,199,395,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Zacks Research cut Boston Scientific from a "hold" rating to a "strong sell" rating in a research note on Friday, June 5th. Wells Fargo & Company lowered their price target on Boston Scientific from $55.00 to $50.00 and set an "equal weight" rating for the company in a research report on Thursday, July 30th. Mizuho dropped their price objective on Boston Scientific from $90.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, July 15th. Needham & Company LLC cut their price objective on Boston Scientific from $77.00 to $57.00 and set a "buy" rating on the stock in a research report on Wednesday, July 8th. Finally, The Goldman Sachs Group set a $71.00 target price on Boston Scientific in a research note on Thursday, May 28th. Twenty-four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $71.62.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $46.82 on Friday. Boston Scientific Corporation has a 12 month low of $42.20 and a 12 month high of $109.50. The firm has a market capitalization of $67.85 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.02 and a beta of 0.56. 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 business has a fifty day simple moving average of $46.56 and a two-hundred day simple moving average of $56.65.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.38 billion. During the same period in the prior year, the firm earned $0.75 EPS. The company's revenue 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. On average, equities analysts forecast that Boston Scientific Corporation will post 3.3 earnings per share for the current fiscal year.

Boston Scientific announced that its Board of Directors has authorized a share repurchase plan on Monday, May 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical equipment provider to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Michael F. Mahoney purchased 186,240 shares of Boston Scientific stock in a transaction dated Monday, August 3rd. The stock was purchased at an average cost of $48.33 per share, for a total transaction of $9,000,979.20. Following the completion of the purchase, the chief executive officer directly owned 1,590,024 shares of the company's stock, valued at $76,845,859.92. The trade was a 13.27% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Edward J. Ludwig acquired 5,000 shares of the firm's stock in a transaction dated Friday, July 31st. The shares were bought at an average cost of $45.48 per share, with a total value of $227,400.00. Following the completion of the acquisition, the director directly owned 30,359 shares of the company's stock, valued at $1,380,727.32. The trade was 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 bought 194,522 shares of company stock valued at $9,385,210. Insiders own 0.34% of the company's stock.

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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