Ieq Capital LLC Buys Shares of 387,250 Boston Scientific Corporation $BSX

Key Points

• Ieq Capital initiated a position of 387,250 Boston Scientific shares valued at approximately $16.5 million. Institutional investors and hedge funds collectively own 89.07% of the company.
• Company insiders showed confidence by purchasing 194,522 shares worth about $9.4 million over the past three months, including a $9 million purchase by CEO Michael F. Mahoney.
• Boston Scientific exceeded quarterly earnings and revenue expectations, while its board authorized a $5 billion share-buyback plan. Analysts maintain a “Moderate Buy” consensus with an average price target of $71.62.

Ieq Capital LLC purchased a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 387,250 shares of the medical equipment provider's stock, valued at approximately $16,528,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BSX. Kelleher Financial Advisors acquired a new position in Boston Scientific in the second quarter valued at about $25,000. FWL Investment Management LLC purchased a new position in Boston Scientific during the second quarter worth about $26,000. Swiss RE Ltd. acquired a new stake in shares of Boston Scientific during the fourth quarter valued at about $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Boston Scientific during the fourth quarter valued at about $26,000. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Boston Scientific in the 1st quarter worth approximately $28,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Michael F. Mahoney bought 186,240 shares of the firm's stock in a transaction that occurred on 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 acquisition, the chief executive officer owned 1,590,024 shares in the company, valued at approximately $76,845,859.92. This trade represents a 13.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David C. Habiger bought 2,100 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were bought at an average cost of $47.59 per share, with a total value of $99,939.00. Following the completion of the purchase, the director directly owned 17,160 shares in the company, valued at $816,644.40. This represents a 13.94% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 194,522 shares of company stock worth $9,385,210. Corporate insiders own 0.34% of the company's stock.

Boston Scientific Price Performance

Shares of BSX opened at $50.39 on Friday. The company has a market cap of $73.03 billion, a P/E ratio of 20.40, a PEG ratio of 1.10 and a beta of 0.56. Boston Scientific Corporation has a fifty-two week low of $42.20 and a fifty-two week high of $109.50. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 0.43. The firm's 50 day moving average price is $46.34 and its 200 day moving average price is $57.86.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $5.44 billion during the quarter, compared to analysts' expectations of $5.38 billion. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The firm's revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 EPS. 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, research 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 stock buyback plan on Monday, May 18th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

BSX has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of 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. UBS Group decreased their price target on Boston Scientific from $74.00 to $67.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Truist Financial decreased their price target on Boston Scientific from $62.00 to $57.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Argus restated a "hold" rating on shares of Boston Scientific in a research report on Friday, July 31st. Finally, Citigroup dropped their price objective on Boston Scientific from $70.00 to $61.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Twenty-four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.62.

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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