Codex Capital Asset Management L.L.C. Buys New Position in Boston Scientific Corporation $BSX

Codex Capital Asset Management L.L.C. bought a new position in shares of Boston Scientific Corporation (NYSE:BSX) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 33,300 shares of the medical equipment provider’s stock, valued at approximately $3,175,000. Boston Scientific comprises 1.2% of Codex Capital Asset Management L.L.C.’s portfolio, making the stock its 24th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. FWL Investment Management LLC bought a new position in shares of Boston Scientific during the 2nd quarter valued at about $26,000. Swiss RE Ltd. acquired a new stake in Boston Scientific during the fourth quarter valued at approximately $26,000. Colonial Trust Co SC boosted its holdings in Boston Scientific by 502.2% during the third quarter. Colonial Trust Co SC now owns 277 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 231 shares in the last quarter. Bangor Savings Bank grew its position in Boston Scientific by 94.7% in the fourth quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 142 shares during the last quarter. Finally, Board of the Pension Protection Fund bought a new position in shares of Boston Scientific in the fourth quarter valued at $29,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BSX shares. Wall Street Zen lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Mizuho reduced their target price on Boston Scientific from $115.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Oppenheimer set a $90.00 price target on Boston Scientific in a research report on Thursday, April 23rd. Wolfe Research cut Boston Scientific from an “outperform” rating to a “peer perform” rating in a research note on Friday, May 29th. Finally, Truist Financial cut their price objective on Boston Scientific from $85.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.08.

Insiders Place Their Bets

In related news, Director Cheryl Pegus purchased 1,770 shares of Boston Scientific stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $56.49 per share, with a total value of $99,987.30. Following the completion of the transaction, the director directly owned 1,770 shares of the company’s stock, valued at $99,987.30. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig purchased 3,580 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $56.68 per share, with a total value of $202,914.40. Following the completion of the acquisition, 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. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 9,800 shares of company stock worth $554,012. 0.34% of the stock is currently owned by company insiders.

Boston Scientific Price Performance

BSX opened at $46.69 on Tuesday. The stock has a fifty day moving average of $56.05 and a 200-day moving average of $74.40. The firm has a market capitalization of $69.39 billion, a P/E ratio of 19.53, a PEG ratio of 0.89 and a beta of 0.56. Boston Scientific Corporation has a 12-month low of $45.99 and a 12-month 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.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.19 billion. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.Boston Scientific’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. 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. Equities analysts forecast that Boston Scientific Corporation will post 3.36 EPS for the current fiscal year.

Boston Scientific announced that its Board of Directors has initiated a share repurchase plan on Monday, May 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.