Optiver Holding B.V. purchased a new stake in Boston Scientific Corporation (NYSE:BSX – Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,575 shares of the medical equipment provider’s stock, valued at approximately $852,000.
Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Boston Scientific by 0.8% in the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock worth $2,445,000 after purchasing an additional 226 shares in the last quarter. FWL Investment Management LLC acquired a new position in Boston Scientific during the 2nd quarter valued at approximately $26,000. Main Street Financial Solutions LLC increased its stake in Boston Scientific by 35.3% during the 2nd quarter. Main Street Financial Solutions LLC now owns 7,556 shares of the medical equipment provider’s stock valued at $812,000 after purchasing an additional 1,971 shares in the last quarter. Ieq Capital LLC raised its holdings in shares of Boston Scientific by 97.0% in the second quarter. Ieq Capital LLC now owns 123,592 shares of the medical equipment provider’s stock worth $13,275,000 after buying an additional 60,860 shares during the last quarter. Finally, HUB Investment Partners LLC raised its holdings in shares of Boston Scientific by 56.2% in the second quarter. HUB Investment Partners LLC now owns 7,102 shares of the medical equipment provider’s stock worth $763,000 after buying an additional 2,556 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.
Boston Scientific Stock Up 1.6%
Shares of BSX opened at $46.75 on Friday. Boston Scientific Corporation has a 52 week low of $42.20 and a 52 week high of $109.50. 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 company has a market capitalization of $69.48 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 0.96 and a beta of 0.58. The stock’s 50-day moving average price is $46.13 and its 200-day moving average price is $62.26.
Boston Scientific announced that its board has approved a share buyback plan on Monday, May 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
Insider Transactions at Boston Scientific
In other news, Director David C. Habiger purchased 2,250 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost 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 represents a 19.35% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward J. Ludwig purchased 3,580 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $56.68 per share, for a total transaction of $202,914.40. Following the transaction, the director owned 25,359 shares of the company’s stock, valued at $1,437,348.12. This trade represents a 16.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 9,800 shares of company stock valued at $554,012 in the last 90 days. 0.34% of the stock is currently owned by company insiders.
Boston Scientific News Roundup
Here are the key news stories impacting Boston Scientific this week:
- Positive Sentiment: Boston Scientific reported second-quarter adjusted earnings of $0.86 per share and revenue of $5.44 billion, exceeding consensus estimates of $0.83 and $5.38 billion, respectively. Revenue increased 7.5% year over year, while management highlighted approximately 7% organic sales growth and a 15% increase in adjusted EPS. Boston Scientific Q2 earnings call highlights
- Positive Sentiment: Management’s multiyear restructuring plan is intended to improve efficiency and generate roughly $500 million in savings, supporting longer-term margins despite restructuring costs of up to $800 million. Reported workforce reductions are expected to affect operations in Ireland and Costa Rica. Boston Scientific restructuring cuts
- Positive Sentiment: Penumbra reported second-quarter revenue of $390.0 million, up 14.9% year over year, with thrombectomy revenue rising 12.5% and embolization and access revenue increasing 20.0%. The results provide supportive operating momentum for Boston Scientific’s pending acquisition of Penumbra, although PEN will not issue full-year guidance during the transaction. Penumbra second-quarter financial results
- Neutral Sentiment: Analyst sentiment remains broadly constructive but more cautious: UBS reaffirmed a Buy rating with a $74 target, while TD Cowen and Truist maintained Buy ratings despite lowering targets to $56 and $57. Argus reiterated a Hold rating, and BTIG reduced its expectations.
- Negative Sentiment: Boston Scientific lowered its full-year outlook because of headwinds affecting its electrophysiology and WATCHMAN portfolios. Analysts also cited a reset in expectations for these businesses, limiting the near-term upside from the earnings beat. Boston Scientific lowered full-year guidance
- Negative Sentiment: A recall involving the Rapid Refill Continuous Injection System adds a product and execution risk, while the restructuring will create near-term charges before expected savings are realized. Boston Scientific earnings, recall and restructuring
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on BSX shares. Raymond James Financial reissued an “outperform” rating and set a $57.00 price objective on shares of Boston Scientific in a report on Thursday. Wolfe Research lowered Boston Scientific from an “outperform” rating to a “peer perform” rating in a research note on Friday, May 29th. Weiss Ratings cut Boston Scientific from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 7th. BTIG Research dropped their price target on Boston Scientific from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC cut their price objective on Boston Scientific from $77.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Twenty-four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $71.62.
Read Our Latest Stock Analysis on BSX
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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