Boston Scientific Corporation (NYSE:BSX - Get Free Report)'s share price shot up 4% on Monday . The stock traded as high as $48.62 and last traded at $48.7370. Approximately 4,676,513 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 18,425,279 shares. The stock had previously closed at $46.84.
Wall Street Analyst Weigh In
Several brokerages recently commented on BSX. TD Cowen restated a "buy" rating and issued a $56.00 price target on shares of Boston Scientific in a research report on Tuesday, August 25th. Citigroup lowered their price objective on shares of Boston Scientific from $70.00 to $61.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Piper Sandler reissued an "overweight" rating and set a $65.00 target price on shares of Boston Scientific in a research note on Friday, June 12th. Royal Bank Of Canada decreased their target price on Boston Scientific from $85.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, July 30th. Finally, Leerink Partners set a $60.00 price target on Boston Scientific in a report on Thursday, July 30th. Twenty-four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.62.
Read Our Latest Stock Report on BSX
Boston Scientific Stock Performance
The firm's fifty day moving average is $46.56 and its 200 day moving average is $56.53. The firm has a market capitalization of $69.93 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 1.02 and a beta of 0.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 0.74.
Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data 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 firm 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 company's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior 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, analysts predict that Boston Scientific Corporation will post 3.3 EPS for the current fiscal year.
Boston Scientific declared that its board has authorized a share buyback program on Monday, May 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical equipment provider to purchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.
Insider Buying and Selling
In other news, Director David C. Habiger bought 2,100 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were bought at an average cost of $47.59 per share, with a total value of $99,939.00. Following the transaction, the director directly owned 17,160 shares in the company, valued at approximately $816,644.40. This trade represents a 13.94% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael F. Mahoney purchased 186,240 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were purchased at an average cost of $48.33 per share, with a total value of $9,000,979.20. Following the completion of the purchase, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 194,522 shares of company stock worth $9,385,210. Corporate insiders own 0.34% of the company's stock.
Hedge Funds Weigh In On Boston Scientific
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Group LLC bought a new position in Boston Scientific in the fourth quarter valued at about $28,064,000. Perigon Wealth Management LLC acquired a new stake in Boston Scientific in the second quarter worth about $883,000. Y Intercept Hong Kong Ltd raised its holdings in Boston Scientific by 148.8% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 1,120,331 shares of the medical equipment provider's stock worth $47,816,000 after purchasing an additional 670,060 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in Boston Scientific during the 2nd quarter worth about $3,253,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab lifted its position in Boston Scientific by 9.9% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 320,038 shares of the medical equipment provider's stock valued at $13,659,000 after purchasing an additional 28,961 shares during the period. Institutional investors own 89.07% of the company's stock.
About Boston Scientific
(
Get 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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