Sone Capital Management LLC Takes Position in Boston Scientific Corporation $BSX

Sone Capital Management LLC bought a new stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 23,801 shares of the medical equipment provider's stock, valued at approximately $1,016,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Boston Scientific during the second quarter worth approximately $5,534,781,000. State Street Corp lifted its stake in Boston Scientific by 1.4% during 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 buying an additional 920,495 shares in the last quarter. Capital World Investors lifted its stake in Boston Scientific by 1.9% during the fourth quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider's stock valued at $2,588,953,000 after buying an additional 502,627 shares in the last quarter. Norges Bank acquired a new position in shares of Boston Scientific in the fourth quarter worth about $2,199,395,000. Finally, Morgan Stanley increased its position in shares of Boston Scientific by 10.8% in the fourth quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider's stock worth $2,189,289,000 after acquiring an additional 2,246,308 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Down 2.8%

Boston Scientific stock opened at $48.98 on Tuesday. Boston Scientific Corporation has a twelve month low of $42.20 and a twelve month high of $109.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 1.24. The firm has a market cap of $70.99 billion, a PE ratio of 19.83, a P/E/G ratio of 1.10 and a beta of 0.56. The firm's 50 day moving average price is $46.38 and its two-hundred day moving average price is $57.32.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.03. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.38 billion. During the same quarter last year, the business posted $0.75 EPS. The company's revenue for the quarter 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, research analysts predict that Boston Scientific Corporation will post 3.3 EPS for the current fiscal year.

Boston Scientific declared that its Board of Directors has authorized a stock repurchase plan on Monday, May 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

BSX has been the topic of a number of recent analyst reports. Robert W. Baird set a $56.00 price target on shares of Boston Scientific in a report on Thursday, July 30th. The Goldman Sachs Group set a $71.00 target price on shares of Boston Scientific in a research note on Thursday, May 28th. Royal Bank Of Canada reduced their target price on Boston Scientific from $85.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, July 30th. Weiss Ratings cut Boston Scientific from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 7th. Finally, Piper Sandler reiterated an "overweight" rating and set a $65.00 price target on shares of Boston Scientific in a report on Friday, June 12th. Twenty-four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.62.

Insider Activity at Boston Scientific

In other news, Director David C. Habiger acquired 2,100 shares of Boston Scientific stock in a transaction that occurred on Wednesday, August 5th. The stock was purchased at an average price of $47.59 per share, with a total value of $99,939.00. Following the completion of the transaction, the director owned 17,160 shares in the company, valued at approximately $816,644.40. This trade represents a 13.94% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney bought 186,240 shares of the stock in a transaction on Monday, August 3rd. The stock was purchased at an average price of $48.33 per share, for a total transaction of $9,000,979.20. Following the purchase, the chief executive officer directly owned 1,590,024 shares of the company's stock, valued at approximately $76,845,859.92. This represents a 13.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 194,522 shares of company stock valued at $9,385,210. Insiders own 0.34% of the company's stock.

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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