Strs Ohio Sells 109,496 Shares of Boston Scientific Corporation $BSX

Key Points

• Strs Ohio reduced its Boston Scientific stake by 12.3% in the first quarter, selling 109,496 shares and leaving it with 781,999 shares valued at about $49.1 million.
• Insiders were buying shares: directors David C. Habiger and Cheryl Pegus both purchased stock in May, and insiders bought 9,800 shares worth $554,012 over the last 90 days.
• Boston Scientific reported solid results and new buyback plans, beating EPS estimates in its latest quarter, raising guidance, and authorizing a $5 billion share repurchase program.

Strs Ohio trimmed its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 12.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 781,999 shares of the medical equipment provider's stock after selling 109,496 shares during the quarter. Strs Ohio owned about 0.05% of Boston Scientific worth $49,070,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BSX. Renaissance Group LLC acquired a new stake in Boston Scientific in the 4th quarter valued at approximately $28,064,000. Rathbones Group PLC lifted its holdings in shares of 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 shares of Boston Scientific in the fourth quarter valued at approximately $1,477,000. Waycross Partners LLC bought a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $2,384,000. Finally, Kepler Cheuvreux Suisse SA acquired a new stake in shares of Boston Scientific in the third quarter worth $26,955,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Boston Scientific

In other news, Director David C. Habiger bought 2,250 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the completion of the purchase, the director owned 13,878 shares of the company's stock, valued at approximately $776,057.76. The trade was a 19.35% 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 Cheryl Pegus bought 1,770 shares of Boston Scientific stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $56.49 per share, for a total transaction of $99,987.30. Following the completion of the acquisition, the director directly owned 1,770 shares in the company, valued at $99,987.30. This represents a ∞ 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 9,800 shares of company stock valued at $554,012. Corporate insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

BSX has been the topic of a number of research reports. Daiwa Securities Group lowered shares of Boston Scientific from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 29th. Wells Fargo & Company restated an "equal weight" rating and issued a $55.00 price target (down from $75.00) on shares of Boston Scientific in a research report on Thursday, May 28th. Truist Financial dropped their price objective on shares of Boston Scientific from $85.00 to $64.00 and set a "buy" rating on the stock in a report on Thursday, June 4th. BTIG Research reiterated a "buy" rating and issued a $65.00 target price on shares of Boston Scientific in a research note on Tuesday, June 16th. Finally, The Goldman Sachs Group set a $71.00 target price on Boston Scientific in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.36.

Boston Scientific Stock Up 4.7%

Shares of NYSE BSX opened at $45.09 on Friday. Boston Scientific Corporation has a 52-week low of $42.25 and a 52-week high of $109.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90. The business has a fifty day moving average of $51.39 and a two-hundred day moving average of $69.60. The stock has a market cap of $67.01 billion, a PE ratio of 18.86, a PEG ratio of 0.82 and a beta of 0.58.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.01. The business had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.19 billion. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $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. As a group, equities research analysts expect that Boston Scientific Corporation will post 3.36 earnings per share for the current fiscal year.

Boston Scientific announced that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are 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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