The Manufacturers Life Insurance Company purchased a new position in Boston Scientific Corporation (NYSE:BSX - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 2,702,583 shares of the medical equipment provider's stock, valued at approximately $115,346,000. The Manufacturers Life Insurance Company owned 0.19% of Boston Scientific as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of BSX. Sone Capital Management LLC bought a new stake in shares of Boston Scientific in the second quarter valued at approximately $1,016,000. L2 Asset Management LLC bought a new position in Boston Scientific during the second quarter worth $362,000. Vega Investment Solutions bought a new position in Boston Scientific during the second quarter worth $477,000. Cetera Trust Company N.A acquired a new position in Boston Scientific during the 2nd quarter valued at $32,000. Finally, Aberdeen Wealth Management LLC acquired a new position in Boston Scientific during the 2nd quarter valued at $329,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Boston Scientific Trading Up 1.7%
Shares of BSX stock opened at $49.86 on Wednesday. The firm has a fifty day moving average of $46.44 and a 200-day moving average of $57.14. The stock has a market cap of $72.26 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 1.07 and a beta of 0.56. Boston Scientific Corporation has a 52-week low of $42.20 and a 52-week 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.
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 for the quarter, beating the consensus estimate of $0.83 by $0.03. The business had revenue of $5.44 billion for 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 firm's revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 EPS. 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 research analysts forecast that Boston Scientific Corporation will post 3.3 earnings per share for the current fiscal year.
Boston Scientific announced that its board has authorized a stock buyback program on Monday, May 18th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.
Insider Buying and Selling at Boston Scientific
In related news, Director Edward J. Ludwig bought 5,000 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average price of $45.48 per share, for a total transaction of $227,400.00. Following the transaction, the director directly owned 30,359 shares of the company's stock, valued at $1,380,727.32. This represents a 19.72% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael F. Mahoney purchased 186,240 shares of the stock in a transaction on Monday, August 3rd. The stock was bought at an average price of $48.33 per share, for a total transaction of $9,000,979.20. Following the completion of the transaction, the chief executive officer directly owned 1,590,024 shares of the company's stock, valued at approximately $76,845,859.92. This trade 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 ninety days, insiders have purchased 194,522 shares of company stock valued at $9,385,210. 0.34% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several analysts have issued reports on BSX shares. TD Cowen restated a "buy" rating and issued a $56.00 price target on shares of Boston Scientific in a research report on Tuesday. Mizuho reduced their target price on shares of Boston Scientific from $90.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, July 15th. Royal Bank Of Canada decreased their target price on Boston Scientific from $85.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, July 30th. Wall Street Zen lowered Boston Scientific from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Finally, Robert W. Baird set a $56.00 price target on Boston Scientific in a report on Thursday, July 30th. Twenty-four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $71.62.
Check Out Our Latest Stock Analysis on BSX
Boston Scientific Profile
(
Free Report)
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.
Further Reading
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