Public Employees Retirement System of Ohio Buys New Shares in Boston Scientific Corporation $BSX

Key Points

• Ohio’s public employees’ retirement system initiated a Boston Scientific position, buying 571,485 shares worth approximately $24.4 million. Institutional investors collectively own 89.07% of the company.
• Boston Scientific exceeded quarterly expectations, reporting $0.86 in earnings per share and $5.44 billion in revenue, while revenue grew 7.5% year over year. The company issued third-quarter and full-year 2026 earnings guidance.
• The board authorized a $5 billion share-repurchase program, covering up to 6.4% of outstanding shares. Analysts maintain a “Moderate Buy” consensus with an average price target of $71.62, well above the reported $46.82 share price.

Public Employees Retirement System of Ohio bought a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 571,485 shares of the medical equipment provider's stock, valued at approximately $24,391,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BSX. BlackRock Inc. acquired a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $5,534,781,000. State Street Corp raised 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 valued at $6,278,422,000 after purchasing an additional 920,495 shares in the last quarter. Primecap Management Co. CA acquired a new position in shares of Boston Scientific in the second quarter valued at $2,156,233,000. Capital World Investors lifted its position in Boston Scientific by 1.9% in the fourth quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider's stock worth $2,588,953,000 after purchasing an additional 502,627 shares during the period. Finally, Norges Bank acquired a new stake in Boston Scientific during the fourth quarter worth $2,199,395,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Price Performance

NYSE:BSX opened at $46.82 on Friday. 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 has a market cap of $67.85 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 1.02 and a beta of 0.56. Boston Scientific Corporation has a 12 month low of $42.20 and a 12 month high of $109.50. The company's 50-day moving average price is $46.56 and its two-hundred day moving average price is $56.65.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.38 billion. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The company's revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $0.75 earnings per share. 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 anticipate that Boston Scientific Corporation will post 3.3 EPS 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 repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BSX shares. Truist Financial lowered their price target on shares of Boston Scientific from $62.00 to $57.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $60.00 target price on shares of Boston Scientific in a research report on Thursday, July 30th. Mizuho lowered their target price on shares of Boston Scientific from $90.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 15th. TD Cowen reissued a "buy" rating and issued a $56.00 price target on shares of Boston Scientific in a research report on Tuesday. Finally, Evercore set a $65.00 price target on shares of Boston Scientific in a research note on Monday, July 6th. Twenty-four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Boston Scientific has a consensus rating of "Moderate Buy" and a consensus price target of $71.62.

Insiders Place Their Bets

In other Boston Scientific news, Director David C. Habiger purchased 2,100 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was acquired at an average cost of $47.59 per share, with a total value of $99,939.00. Following the completion of the acquisition, the director directly owned 17,160 shares of the company's stock, valued at $816,644.40. This represents a 13.94% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward J. Ludwig acquired 5,000 shares of the firm's stock in a transaction on Friday, July 31st. The shares were bought at an average cost of $45.48 per share, for a total transaction of $227,400.00. Following the acquisition, the director owned 30,359 shares in the company, valued at approximately $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 quarter, insiders have acquired 194,522 shares of company stock valued at $9,385,210. 0.34% of the stock is currently owned by corporate insiders.

About Boston Scientific

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source