Tocqueville Asset Management L.P. Makes New Investment in Boston Scientific Corporation $BSX

Key Points

• Tocqueville Asset Management acquired 902,984 Boston Scientific shares worth approximately $38.5 million, giving it a 0.06% stake. Hedge funds and other institutional investors collectively own 89.07% of the company.
• Boston Scientific insiders purchased 194,522 shares worth about $9.4 million over the past 90 days, including a $9.0 million purchase by CEO Michael F. Mahoney.
• The company exceeded quarterly earnings and revenue estimates, with EPS of $0.86 and revenue of $5.44 billion, while its $5 billion buyback authorization allows repurchases of up to 6.4% of outstanding shares. Analysts maintain a “Moderate Buy” consensus with a $71.62 target price.

Tocqueville Asset Management L.P. acquired a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 902,984 shares of the medical equipment provider's stock, valued at approximately $38,539,000. Tocqueville Asset Management L.P. owned about 0.06% of Boston Scientific at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Kelleher Financial Advisors acquired a new position in Boston Scientific in the second quarter valued at $25,000. FWL Investment Management LLC purchased a new position in shares of Boston Scientific during the second quarter worth about $26,000. Swiss RE Ltd. acquired a new stake in shares of Boston Scientific during the fourth quarter worth about $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Boston Scientific in the 4th quarter valued at about $26,000. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Boston Scientific in the 1st quarter valued at about $28,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boston Scientific

In other news, CEO Michael F. Mahoney acquired 186,240 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were purchased at an average cost of $48.33 per share, for a total transaction of $9,000,979.20. Following the transaction, the chief executive officer directly owned 1,590,024 shares in the company, valued at approximately $76,845,859.92. This represents a 13.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David C. Habiger acquired 2,100 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was purchased at an average cost of $47.59 per share, for a total transaction of $99,939.00. Following the completion of the purchase, the director directly owned 17,160 shares in the company, valued at $816,644.40. This trade represents a 13.94% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 194,522 shares of company stock worth $9,385,210 over the last 90 days. 0.34% of the stock is currently owned by insiders.

Boston Scientific Stock Performance

NYSE BSX opened at $52.02 on Thursday. The firm has a market cap of $75.39 billion, a P/E ratio of 21.06, a P/E/G ratio of 1.10 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 business's 50-day moving average price is $46.22 and its 200 day moving average price is $58.22. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 0.43.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. Boston Scientific had a return on equity of 19.28% and a net margin of 17.50%.The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.38 billion. During the same period in the prior year, the business earned $0.75 EPS. The firm's revenue was up 7.5% compared to the same quarter last year. 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 expect that Boston Scientific Corporation will post 3.3 earnings per share for the current year.

Boston Scientific announced that its Board of Directors has authorized a stock buyback plan 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 plans are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BSX shares. Argus restated a "hold" rating on shares of Boston Scientific in a research note on Friday, July 31st. TD Cowen reduced their price objective on Boston Scientific from $61.00 to $56.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Robert W. Baird set a $56.00 price objective on Boston Scientific in a report on Thursday, July 30th. Leerink Partners set a $60.00 target price on shares of Boston Scientific in a research report on Thursday, July 30th. Finally, Barclays lowered their target price on shares of Boston Scientific from $96.00 to $89.00 and set an "overweight" rating on the stock in a research report on Thursday, May 28th. Twenty-four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.62.

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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