Westpac Banking Corp Takes $978,000 Position in Boston Scientific Corporation $BSX

Key Points

• Westpac Banking Corp acquired 22,912 Boston Scientific shares worth approximately $978,000 in the second quarter. Institutional investors collectively own 89.07% of the company.
• Analyst sentiment remains positive, with 24 Buy, five Hold, and two Sell ratings; MarketBeat assigns the stock a “Moderate Buy” consensus rating and an average price target of $71.62.
• Boston Scientific exceeded quarterly expectations with $0.86 EPS and $5.44 billion in revenue, while insiders purchased roughly $9.4 million of stock over the past three months. The company also authorized a $5 billion buyback program covering up to 6.4% of shares.

Westpac Banking Corp acquired a new position in Boston Scientific Corporation (NYSE:BSX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 22,912 shares of the medical equipment provider's stock, valued at approximately $978,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Boston Scientific by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider's stock valued at $13,319,060,000 after buying an additional 1,436,550 shares in the last quarter. BlackRock Inc. acquired a new stake in Boston Scientific during the second quarter worth approximately $5,534,781,000. State Street Corp grew its position 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 worth $6,278,422,000 after buying an additional 920,495 shares in the last quarter. Capital World Investors increased its stake in Boston Scientific by 1.9% during the 4th quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider's stock worth $2,588,953,000 after acquiring an additional 502,627 shares during the period. Finally, Norges Bank acquired a new position in Boston Scientific in the 4th quarter valued at $2,199,395,000. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BSX. Piper Sandler reaffirmed an "overweight" rating and set a $65.00 price objective on shares of Boston Scientific in a research report on Friday, June 12th. Truist Financial decreased their target price on shares of Boston Scientific from $62.00 to $57.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Wells Fargo & Company dropped their target price on shares of Boston Scientific from $55.00 to $50.00 and set an "equal weight" rating for the company in a research report on Thursday, July 30th. Argus reaffirmed a "hold" rating on shares of Boston Scientific in a report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $60.00 price target on shares of Boston Scientific in a research report on Thursday, July 30th. Twenty-four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Boston Scientific currently has an average rating of "Moderate Buy" and an average target price of $71.62.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig acquired 5,000 shares of the company's stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average price of $45.48 per share, with a total value of $227,400.00. Following the purchase, the director directly owned 30,359 shares in the company, valued at approximately $1,380,727.32. This trade represents a 19.72% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael F. Mahoney bought 186,240 shares of the business's 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 transaction, 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. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 194,522 shares of company stock valued at $9,385,210. 0.34% of the stock is owned by insiders.

Boston Scientific Stock Performance

NYSE:BSX opened at $50.39 on Friday. The stock's 50-day simple moving average is $46.34 and its 200 day simple moving average is $57.86. The firm has a market capitalization of $73.03 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.10 and a beta of 0.56. 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 Corporation has a twelve month low of $42.20 and a twelve month high of $109.50.

Boston Scientific (NYSE:BSX - Get Free Report) last released 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. The firm had revenue of $5.44 billion for the quarter, compared to analysts' expectations of $5.38 billion. Boston Scientific had a return on equity of 19.28% and a net margin of 17.50%.The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.75 earnings per share. 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, analysts anticipate that Boston Scientific Corporation will post 3.3 EPS for the current fiscal year.

Boston Scientific announced that its board has authorized a stock buyback plan on Monday, May 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is 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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