Fullerton Fund Management Co Ltd. Buys 387,761 Shares of Boston Scientific Corporation $BSX

Key Points

• Fullerton Fund Management boosted its Boston Scientific stake by 184.3% in Q4, buying 387,761 additional shares and bringing its total to 598,174 shares valued at about $57.0 million.
• Boston Scientific continues to attract broad institutional interest, with firms like Vanguard, State Street, and Morgan Stanley also adding shares; overall, institutional investors now own 89.07% of the stock.
• The company reported solid quarterly results, beating EPS and revenue estimates, and it recently authorized a $5 billion stock buyback program, signaling management confidence in the business.

Fullerton Fund Management Co Ltd. raised its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 184.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 598,174 shares of the medical equipment provider's stock after purchasing an additional 387,761 shares during the period. Boston Scientific accounts for 2.5% of Fullerton Fund Management Co Ltd.'s portfolio, making the stock its 15th largest position. Fullerton Fund Management Co Ltd.'s holdings in Boston Scientific were worth $57,036,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Boston Scientific by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider's stock valued at $13,319,060,000 after purchasing an additional 1,436,550 shares in the last quarter. State Street Corp increased its stake in shares of Boston Scientific by 1.4% during the fourth quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider's stock valued at $6,278,422,000 after purchasing an additional 920,495 shares in the last quarter. Capital World Investors increased its stake in shares of Boston Scientific by 1.9% during the fourth quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider's stock valued at $2,588,953,000 after purchasing an additional 502,627 shares in the last quarter. Norges Bank bought a new position in shares of Boston Scientific during the fourth quarter valued at approximately $2,199,395,000. Finally, Morgan Stanley increased its stake in shares of Boston Scientific by 10.8% during the fourth quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider's stock valued at $2,189,289,000 after purchasing an additional 2,246,308 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Jefferies Financial Group decreased their target price on shares of Boston Scientific from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, April 22nd. Zacks Research downgraded shares of Boston Scientific from a "hold" rating to a "strong sell" rating in a research report on Friday, June 5th. Citigroup reduced their price target on shares of Boston Scientific from $87.00 to $70.00 and set a "buy" rating for the company in a research report on Thursday, May 28th. Barclays reduced their price target on shares of Boston Scientific from $96.00 to $89.00 and set an "overweight" rating for the company in a research report on Thursday, May 28th. Finally, Mizuho reduced their price target on shares of Boston Scientific from $115.00 to $90.00 and set an "outperform" rating for the company in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $85.08.

Insider Transactions at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig purchased 3,580 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $56.68 per share, for a total transaction of $202,914.40. Following the purchase, the director directly owned 25,359 shares of the company's stock, valued at $1,437,348.12. The trade was a 16.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cheryl Pegus purchased 1,770 shares of the company's stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the purchase, the director directly owned 1,770 shares in the company, valued at approximately $99,987.30. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 9,800 shares of company stock worth $554,012 in the last 90 days. 0.34% of the stock is currently owned by insiders.

Boston Scientific Trading Up 0.3%

Shares of BSX stock opened at $46.92 on Wednesday. Boston Scientific Corporation has a 12-month low of $45.99 and a 12-month high of $109.50. 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 firm's 50 day moving average is $55.74 and its 200 day moving average is $74.02. The stock has a market capitalization of $69.74 billion, a P/E ratio of 19.63, a P/E/G ratio of 0.89 and a beta of 0.56.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The company had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.19 billion. During the same quarter last year, the company posted $0.75 earnings per share. The firm's quarterly revenue was up 11.6% on a year-over-year basis. 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. Research analysts expect that Boston Scientific Corporation will post 3.36 earnings per share for the current year.

Boston Scientific declared that its Board of Directors has authorized a stock buyback program 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 programs are often a sign that the company's board of directors believes its stock is undervalued.

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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