Cibc World Market Inc. purchased a new position in shares of Boston Scientific Corporation (NYSE:BSX – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 152,542 shares of the medical equipment provider’s stock, valued at approximately $6,510,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kelleher Financial Advisors acquired a new stake in shares of Boston Scientific during the 2nd quarter valued at $25,000. FWL Investment Management LLC purchased a new stake in shares of Boston Scientific during the second quarter worth $26,000. Swiss RE Ltd. acquired a new stake in Boston Scientific during the fourth quarter valued at $26,000. Garton & Associates Financial Advisors LLC purchased a new position in Boston Scientific in the fourth quarter valued at about $26,000. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in Boston Scientific in the 1st quarter worth about $28,000. 89.07% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
BSX has been the topic of several recent research reports. The Goldman Sachs Group set a $71.00 price objective on shares of Boston Scientific in a research report on Thursday, May 28th. Zacks Research lowered shares of Boston Scientific from a “hold” rating to a “strong sell” rating in a research note on Friday, June 5th. Truist Financial decreased their price objective on shares of Boston Scientific from $62.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Wolfe Research downgraded shares of Boston Scientific from an “outperform” rating to a “peer perform” rating in a research report on Friday, May 29th. Finally, Daiwa Securities Group lowered Boston Scientific from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. 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. According to MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $71.62.
Boston Scientific Price Performance
Shares of Boston Scientific stock opened at $49.86 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $46.44 and a 200-day simple moving average of $57.14. The stock has a market capitalization of $72.26 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.07 and a beta of 0.56. Boston Scientific Corporation has a 1-year low of $42.20 and a 1-year high of $109.50.
Boston Scientific (NYSE:BSX – Get Free Report) last posted 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 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%. Boston Scientific’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted $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, sell-side analysts expect that Boston Scientific Corporation will post 3.3 earnings per share for the current year.
Boston Scientific announced that its board has authorized a stock repurchase plan on Monday, May 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical equipment provider to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Insider Buying and Selling at Boston Scientific
In other Boston Scientific news, Director David C. Habiger acquired 2,100 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was acquired at an average price of $47.59 per share, with a total value of $99,939.00. Following the transaction, the director owned 17,160 shares of the company’s stock, valued at approximately $816,644.40. This trade represents a 13.94% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael F. Mahoney bought 186,240 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were acquired at an average price of $48.33 per share, with a total value of $9,000,979.20. Following the purchase, the chief executive officer owned 1,590,024 shares in the company, valued at $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. Insiders bought 194,522 shares of company stock worth $9,385,210 over the last ninety days. Company insiders own 0.34% of the company’s stock.
About Boston Scientific
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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