Renaissance Group LLC Purchases Shares of 294,324 Boston Scientific Corporation $BSX

Key Points

• Renaissance Group LLC opened a new position in Boston Scientific, buying 294,324 shares worth about $28.1 million in the fourth quarter.
• Boston Scientific reported better-than-expected Q1 results, with EPS of $0.80 and revenue of $5.20 billion, while also issuing Q2 and full-year 2026 guidance above current expectations.
• The company announced a $5 billion share repurchase program, and several insiders also bought shares, signaling confidence even as the stock traded lower near its 52-week low.

Renaissance Group LLC purchased a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 294,324 shares of the medical equipment provider's stock, valued at approximately $28,064,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Brighton Jones LLC increased its stake in Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock valued at $2,445,000 after purchasing an additional 226 shares during the last quarter. FWL Investment Management LLC acquired a new stake in Boston Scientific in the 2nd quarter worth about $26,000. Main Street Financial Solutions LLC grew its holdings in Boston Scientific by 35.3% in the 2nd quarter. Main Street Financial Solutions LLC now owns 7,556 shares of the medical equipment provider's stock valued at $812,000 after buying an additional 1,971 shares during the period. Ieq Capital LLC increased its stake in shares of Boston Scientific by 97.0% during the 2nd quarter. Ieq Capital LLC now owns 123,592 shares of the medical equipment provider's stock valued at $13,275,000 after acquiring an additional 60,860 shares during the last quarter. Finally, HUB Investment Partners LLC lifted its holdings in shares of Boston Scientific by 56.2% during the 2nd quarter. HUB Investment Partners LLC now owns 7,102 shares of the medical equipment provider's stock worth $763,000 after acquiring an additional 2,556 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Stock Down 1.1%

Shares of Boston Scientific stock opened at $48.42 on Thursday. Boston Scientific Corporation has a 1-year low of $47.17 and a 1-year high of $109.50. The company has a market capitalization of $71.98 billion, a PE ratio of 20.26, a P/E/G ratio of 0.92 and a beta of 0.56. 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 business has a 50-day moving average of $56.99 and a 200-day moving average of $75.49.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.01. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the business posted $0.75 earnings per share. Boston Scientific's revenue for the quarter 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. As a group, equities analysts forecast that Boston Scientific Corporation will post 3.36 EPS for the current fiscal year.

Boston Scientific announced that its Board of Directors has initiated a share repurchase 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 reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at Boston Scientific

In related news, Director Edward J. Ludwig purchased 3,580 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,437,348.12. The trade was a 16.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cheryl Pegus acquired 1,770 shares of Boston Scientific stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the completion of the purchase, the director directly owned 1,770 shares in the company, valued at $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 a total of 9,800 shares of company stock valued at $554,012 in the last three months. Corporate insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

BSX has been the subject of a number of recent analyst reports. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Boston Scientific in a research report on Thursday, May 28th. UBS Group dropped their price target on Boston Scientific from $120.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday, March 17th. Raymond James Financial reaffirmed an "outperform" rating and issued a $88.00 price objective (down from $97.00) on shares of Boston Scientific in a research note on Monday, March 30th. Canaccord Genuity Group decreased their target price on Boston Scientific from $71.00 to $70.00 and set a "buy" rating for the company in a report on Monday, June 1st. Finally, Mizuho dropped their target price 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 analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $85.92.

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.

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.