Jupiter Topco LLC Buys Shares of 18,822,853 Boston Scientific Corporation $BSX

Key Points

• Jupiter Topco LLC acquired 18.82 million Boston Scientific shares during the second quarter, valued at approximately $803.4 million and representing a 1.30% stake. Institutional investors collectively own 89.07% of the company.
• Boston Scientific exceeded quarterly expectations, reporting $0.86 in adjusted EPS versus an $0.83 consensus estimate and $5.44 billion in revenue, up 7.5% year over year. The company provided third-quarter EPS guidance of $0.80–$0.82.
• Analysts maintain a generally positive view, with 24 Buy, five Hold and two Sell ratings and an average price target of $71.62. The company also authorized a $5 billion share-repurchase program, equivalent to up to 6.4% of outstanding shares.

Jupiter Topco LLC bought a new stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 18,822,853 shares of the medical equipment provider's stock, valued at approximately $803,357,000. Jupiter Topco LLC owned about 1.30% of Boston Scientific as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Kelleher Financial Advisors bought a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $25,000. FWL Investment Management LLC bought a new position in Boston Scientific in the 2nd quarter valued at $26,000. Swiss RE Ltd. purchased a new stake in Boston Scientific in the fourth quarter worth $26,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Boston Scientific during the fourth quarter worth $26,000. Finally, Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Boston Scientific during the first quarter worth $28,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Boston Scientific news, Director David C. Habiger purchased 2,100 shares of Boston Scientific stock in a transaction dated Wednesday, August 5th. The stock was acquired at an average price of $47.59 per share, for a total transaction of $99,939.00. Following the acquisition, the director owned 17,160 shares in the company, valued at $816,644.40. This trade represents a 13.94% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney purchased 186,240 shares of the stock in a transaction dated Monday, August 3rd. The stock was acquired at an average cost of $48.33 per share, with a total value of $9,000,979.20. Following the transaction, the chief executive officer directly 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 disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 194,522 shares of company stock worth $9,385,210. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada lowered their target price on shares of Boston Scientific from $85.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, July 30th. Wolfe Research lowered shares of Boston Scientific from an "outperform" rating to a "peer perform" rating in a report on Friday, May 29th. The Goldman Sachs Group set a $71.00 price objective on shares of Boston Scientific in a research report on Thursday, May 28th. Truist Financial dropped their target price on shares of Boston Scientific from $62.00 to $57.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Finally, Wells Fargo & Company reduced their target price on shares of Boston Scientific from $55.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 30th. Twenty-four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $71.62.

Boston Scientific Price Performance

BSX opened at $49.86 on Wednesday. The company has a market capitalization of $72.26 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.07 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. Boston Scientific Corporation has a 12-month low of $42.20 and a 12-month high of $109.50. The business's fifty day simple moving average is $46.44 and its 200-day simple moving average is $57.14.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. Boston Scientific had a return on equity of 19.28% and a net margin of 17.50%.The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.38 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The firm's quarterly revenue was up 7.5% on a year-over-year basis. 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 research analysts anticipate that Boston Scientific Corporation will post 3.3 earnings per share for the current fiscal year.

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

Boston Scientific 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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