Cullinan Associates Inc. lifted its position in Boston Scientific Corporation (NYSE:BSX – Free Report) by 91.9% in the 1st quarter, Holdings Channel reports. The fund owned 23,799 shares of the medical equipment provider’s stock after acquiring an additional 11,399 shares during the quarter. Cullinan Associates Inc.’s holdings in Boston Scientific were worth $1,493,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Group LLC bought a new stake in Boston Scientific during the fourth quarter worth about $28,064,000. Rathbones Group PLC increased its stake in shares of Boston Scientific by 20.9% during the fourth quarter. Rathbones Group PLC now owns 2,759,657 shares of the medical equipment provider’s stock valued at $263,133,000 after purchasing an additional 477,680 shares in the last quarter. Tounjian Advisory Partners LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at approximately $1,477,000. Waycross Partners LLC purchased a new position in shares of Boston Scientific during the fourth quarter valued at approximately $2,384,000. Finally, Union Bancaire Privee UBP SA boosted its position in shares of Boston Scientific by 15.0% in the 4th quarter. Union Bancaire Privee UBP SA now owns 248,497 shares of the medical equipment provider’s stock worth $23,417,000 after purchasing an additional 32,425 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently commented on BSX. Leerink Partners cut their price objective on shares of Boston Scientific from $87.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday, May 28th. Robert W. Baird set a $70.00 price objective on shares of Boston Scientific in a report on Thursday, May 28th. Barclays lowered their price objective on Boston Scientific from $96.00 to $89.00 and set an “overweight” rating on the stock in a research report on Thursday, May 28th. Daiwa Securities Group lowered Boston Scientific from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings cut Boston Scientific from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $81.32.
Insider Activity at Boston Scientific
In related news, Director David C. Habiger purchased 2,250 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $55.92 per share, with a total value of $125,820.00. Following the completion of the acquisition, the director owned 13,878 shares of the company’s stock, valued at approximately $776,057.76. This trade represents a 19.35% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Cheryl Pegus purchased 1,770 shares of Boston Scientific stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of $56.49 per share, with a total value of $99,987.30. Following the transaction, the director owned 1,770 shares of the company’s stock, valued at approximately $99,987.30. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 9,800 shares of company stock worth $554,012. Corporate insiders own 0.34% of the company’s stock.
Boston Scientific Stock Performance
Shares of BSX traded down $0.32 during trading hours on Friday, hitting $44.67. The stock had a trading volume of 12,037,584 shares, compared to its average volume of 18,748,692. The firm has a market capitalization of $66.40 billion, a PE ratio of 18.69, a PEG ratio of 0.86 and a beta of 0.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22. Boston Scientific Corporation has a 12 month low of $42.25 and a 12 month high of $109.50. The stock has a fifty day moving average price of $49.41 and a 200 day moving average price of $67.70.
Boston Scientific (NYSE:BSX – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.79 by $0.01. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.19 billion. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS. Boston Scientific has set its Q2 2026 guidance at 0.820-0.840 EPS and its FY 2026 guidance at 3.340-3.410 EPS. Analysts anticipate that Boston Scientific Corporation will post 3.36 EPS for the current year.
Boston Scientific announced that its Board of Directors has initiated a share buyback program on Monday, May 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical equipment provider to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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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