OP Asset Management Ltd Invests $9.42 Million in Boston Scientific Corporation $BSX

Key Points

• OP Asset Management opened a new position in Boston Scientific during the first quarter, buying 150,097 shares valued at about $9.42 million.
• Boston Scientific is seeing a mix of sentiment: analysts remain generally bullish with a Moderate Buy consensus, but some targets have been cut and the stock has also faced recent pressure from a nationwide Orca valve recall.
• Insider buying and corporate support are notable, with directors Cheryl Pegus and Edward J. Ludwig both purchasing shares, and the board authorizing a $5 billion share buyback.

OP Asset Management Ltd bought a new stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 150,097 shares of the medical equipment provider's stock, valued at approximately $9,419,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Renaissance Group LLC bought a new position in Boston Scientific during the 4th quarter valued at about $28,064,000. Rathbones Group PLC grew its stake in Boston Scientific by 20.9% during the fourth quarter. Rathbones Group PLC now owns 2,759,657 shares of the medical equipment provider's stock worth $263,133,000 after buying an additional 477,680 shares during the last quarter. Tounjian Advisory Partners LLC bought a new stake in Boston Scientific during the fourth quarter worth about $1,477,000. Waycross Partners LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth approximately $2,384,000. Finally, Kepler Cheuvreux Suisse SA bought a new position in shares of Boston Scientific in the third quarter valued at approximately $26,955,000. Institutional investors own 89.07% of the company's stock.

Boston Scientific News Roundup

Here are the key news stories impacting Boston Scientific this week:

• Positive Sentiment: Analysts remain constructive on Boston Scientific’s growth prospects, pointing to upcoming catalysts like pulse field ablation (PFA) and Watchman, and TD Cowen reiterated a Buy rating with a lowered price target that still implies meaningful upside. TD Cowen Maintains a Buy Rating on Boston Scientific (BSX)
• Positive Sentiment: Unusually heavy call option buying suggests traders are positioning for a rebound in BSX, which can reflect bullish near-term sentiment.
• Positive Sentiment: Short interest fell sharply in June, dropping 48.3% to about 29.8 million shares, which may indicate easing bearish conviction and could reduce downside pressure.
• Positive Sentiment: One commentary piece argued that Boston Scientific’s pullback may be creating a value opportunity, reinforcing the view that some investors see the stock as oversold. Boston Scientific's Fall From Penthouse To Doghouse Creates A Value Opportunity
• Neutral Sentiment: A recent note said BSX has been a laggard this year, and although analysts see upside from current levels, the stock is still working to recover from a sharp decline.
• Negative Sentiment: Boston Scientific recently disclosed a nationwide recall of Orca valves after a device malfunction, adding regulatory and operational concerns that may weigh on sentiment. Boston Scientific (BSX) Recalls Orca Valves Nationwide After Device Malfunction
• Negative Sentiment: Investors also remain focused on questions around Watchman and the impact of the device recall, which have changed the investment story and may be contributing to recent stock weakness. How a Targeted Valve Recall and Watchman Questions at Boston Scientific (BSX) Have Changed Its Investment Story

Insider Transactions at Boston Scientific

In other news, Director Cheryl Pegus acquired 1,770 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $56.49 per share, for a total transaction of $99,987.30. Following the completion of the transaction, the director directly owned 1,770 shares in the company, valued at $99,987.30. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward J. Ludwig acquired 3,580 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $56.68 per share, with a total value of $202,914.40. Following the completion of the acquisition, the director directly owned 25,359 shares in the company, valued at approximately $1,437,348.12. The trade was a 16.44% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 9,800 shares of company stock worth $554,012 over the last 90 days. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on BSX. Citigroup reduced their target price on Boston Scientific from $87.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, May 28th. Stifel Nicolaus cut their price objective on Boston Scientific from $75.00 to $65.00 and set a "buy" rating for the company in a research report on Thursday. UBS Group reduced their price objective on Boston Scientific from $120.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, March 17th. Needham & Company LLC restated a "buy" rating and set a $77.00 target price on shares of Boston Scientific in a report on Monday, May 18th. Finally, Zacks Research lowered Boston Scientific from a "hold" rating to a "strong sell" rating in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $83.36.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $44.20 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22. The firm has a 50 day simple moving average of $53.28 and a 200 day simple moving average of $71.32. Boston Scientific Corporation has a fifty-two week low of $43.89 and a fifty-two week high of $109.50. The firm has a market cap of $65.70 billion, a P/E ratio of 18.50, a P/E/G ratio of 0.85 and a beta of 0.56.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.19 billion. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $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. Sell-side analysts predict that Boston Scientific Corporation will post 3.36 earnings per share for the current fiscal year.

Boston Scientific announced that its board has authorized 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 purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are usually an indication 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.