Great Lakes Advisors LLC bought a new stake in shares of Boston Scientific Corporation (NYSE:BSX – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 279,760 shares of the medical equipment provider’s stock, valued at approximately $11,940,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Boston Scientific during the second quarter worth approximately $5,534,781,000. Norges Bank bought a new stake in shares of Boston Scientific in the 4th quarter valued at approximately $2,199,395,000. Bank of New York Mellon Corp bought a new stake in shares of Boston Scientific in the 2nd quarter valued at approximately $339,031,000. Deutsche Bank AG purchased a new position in shares of Boston Scientific in the 2nd quarter worth approximately $254,247,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Boston Scientific by 133.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,057,936 shares of the medical equipment provider’s stock worth $631,135,000 after purchasing an additional 5,751,760 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.
Insider Buying and Selling at Boston Scientific
In related news, CEO Michael F. Mahoney acquired 186,240 shares of the stock in a transaction on Monday, August 3rd. The stock was bought at an average cost of $48.33 per share, with a total value of $9,000,979.20. Following the transaction, 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. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David C. Habiger bought 2,100 shares of Boston Scientific stock in a transaction dated Wednesday, August 5th. The shares were bought at an average cost of $47.59 per share, for a total transaction of $99,939.00. Following the completion of 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 194,522 shares of company stock valued at $9,385,210 in the last three months. Company insiders own 0.34% of the company’s stock.
Boston Scientific Stock Performance
Boston Scientific (NYSE:BSX – Get Free Report) last issued 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 during 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 business’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $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. Analysts predict that Boston Scientific Corporation will post 3.3 earnings per share for the current year.
Boston Scientific announced that its Board of Directors has authorized a stock 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 purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
Analysts Set New Price Targets
Several research firms recently weighed in on BSX. Truist Financial decreased their price target on 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 price objective on shares of Boston Scientific from $55.00 to $50.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Evercore set a $65.00 price objective on shares of Boston Scientific in a research report on Monday, July 6th. Raymond James Financial reissued an “outperform” rating and issued a $57.00 target price on shares of Boston Scientific in a research note on Thursday, July 30th. Finally, Zacks Research lowered shares of Boston Scientific from a “hold” rating to a “strong sell” rating in a report on Friday, June 5th. Twenty-four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $71.62.
Read Our Latest Research Report on Boston Scientific
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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