Envestnet Portfolio Solutions Inc. raised its stake in Boston Scientific Corporation (NYSE:BSX – Free Report) by 45.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 97,155 shares of the medical equipment provider’s stock after acquiring an additional 30,469 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Boston Scientific were worth $9,256,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. WD Rutherford LLC boosted its stake in shares of Boston Scientific by 53.4% during the 4th quarter. WD Rutherford LLC now owns 35,040 shares of the medical equipment provider’s stock worth $3,341,000 after purchasing an additional 12,191 shares during the period. Requisite Capital Management LLC purchased a new position in shares of Boston Scientific during the 4th quarter worth about $458,000. RiverFront Investment Group LLC boosted its stake in shares of Boston Scientific by 0.7% during the 4th quarter. RiverFront Investment Group LLC now owns 21,308 shares of the medical equipment provider’s stock worth $2,032,000 after purchasing an additional 150 shares during the period. Passumpsic Savings Bank purchased a new position in shares of Boston Scientific during the 4th quarter worth about $3,141,000. Finally, North Dakota State Investment Board purchased a new position in shares of Boston Scientific during the 4th quarter worth about $4,826,000. 89.07% of the stock is currently owned by institutional investors.
Boston Scientific Trading Down 0.4%
NYSE:BSX opened at $56.59 on Thursday. Boston Scientific Corporation has a 52 week low of $52.52 and a 52 week high of $109.50. The firm has a 50 day moving average of $62.46 and a 200 day moving average of $80.71. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $84.11 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.04 and a beta of 0.62.
Boston Scientific announced that its board has approved a share buyback plan on Monday, May 18th that permits the company to buyback $5.00 billion in 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 usually a sign that the company’s leadership believes its stock is undervalued.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. Morgan Stanley dropped their price target on shares of Boston Scientific from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Wall Street Zen cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Mizuho lowered their price objective on shares of Boston Scientific from $115.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, April 13th. Truist Financial lowered their price objective on shares of Boston Scientific from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Finally, Robert W. Baird lowered their price objective on shares of Boston Scientific from $78.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.71.
View Our Latest Research Report on Boston Scientific
Boston Scientific News Roundup
Here are the key news stories impacting Boston Scientific this week:
- Positive Sentiment: Boston Scientific reported positive pivotal results for its SEISMIQ 4CE coronary intravascular lithotripsy catheter in the FRACTURE trial, meeting key safety and effectiveness endpoints in patients with severely calcified coronary artery disease. The company plans to use the data to support a regulatory filing, which strengthens its cardiovascular pipeline and could expand future revenue. Article Title
- Positive Sentiment: The company announced a $2 billion accelerated share repurchase and a broader $5 billion buyback authorization, signaling confidence in its valuation and providing support for earnings per share over time. Article Title
- Positive Sentiment: Boston Scientific also invested $1.5 billion for an equity stake in MiRus, with an option tied to the company’s TAVR business, which could deepen BSX’s position in structural heart and create an additional growth path. Article Title
- Neutral Sentiment: Baird lowered its price target on BSX to $75 from $78 but kept an Outperform rating, suggesting analysts remain constructive even after revising near-term expectations lower. Article Title
- Neutral Sentiment: Other recent broker updates were mixed, with some firms reaffirming Buy ratings while Bank of America also trimmed its target, keeping the analyst backdrop supportive but not especially strong. Article Title
- Negative Sentiment: Some market commentary and fund commentary referenced BSX as having “weak results” or falling on that basis, which adds to the perception of recent pressure on the shares. Article Title
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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