Handelsbanken Fonder AB Lowers Position in Boston Scientific Corporation $BSX

Handelsbanken Fonder AB lessened its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 38.8% in the second quarter, HoldingsChannel.com reports. The fund owned 1,584,433 shares of the medical equipment provider’s stock after selling 1,002,628 shares during the period. Handelsbanken Fonder AB’s holdings in Boston Scientific were worth $67,624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Fulton Bank N.A. lifted its position in Boston Scientific by 1.8% during the second quarter. Fulton Bank N.A. now owns 20,215 shares of the medical equipment provider’s stock valued at $863,000 after purchasing an additional 360 shares during the last quarter. Paladin Wealth LLC grew its stake in Boston Scientific by 111.7% in the 2nd quarter. Paladin Wealth LLC now owns 13,099 shares of the medical equipment provider’s stock worth $559,000 after buying an additional 6,912 shares in the last quarter. Focus Financial Network Inc. increased its holdings in shares of Boston Scientific by 39.9% in the 2nd quarter. Focus Financial Network Inc. now owns 37,203 shares of the medical equipment provider’s stock worth $1,588,000 after buying an additional 10,616 shares during the last quarter. Legacy Wealth Asset Management LLC increased its holdings in shares of Boston Scientific by 7.5% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 23,779 shares of the medical equipment provider’s stock worth $1,015,000 after buying an additional 1,668 shares during the last quarter. Finally, Allied Private Wealth LLC purchased a new stake in shares of Boston Scientific during the 2nd quarter valued at $65,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 2.3%

BSX opened at $50.42 on Tuesday. The company has a market cap of $73.07 billion, a P/E ratio of 20.41, a P/E/G ratio of 1.08 and a beta of 0.56. The business’s 50-day moving average price is $45.80 and its 200-day moving average price is $60.25. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. Boston Scientific Corporation has a 12 month low of $42.20 and a 12 month high of $109.50.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.38 billion. Boston Scientific had a return on equity of 19.28% and a net margin of 17.50%.Boston Scientific’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the company 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, equities analysts expect that Boston Scientific Corporation will post 3.3 EPS for the current year.

Boston Scientific announced that its board has authorized a share buyback program on Monday, May 18th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical equipment provider to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Oppenheimer cut their target price on shares of Boston Scientific from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, July 27th. Bank of America lowered their price target on Boston Scientific from $105.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Wall Street Zen lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Needham & Company LLC cut their price objective on Boston Scientific from $77.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Finally, Leerink Partners set a $60.00 price objective on Boston Scientific in a research report on Thursday, July 30th. Twenty-four 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.62.

Insider Buying and Selling

In other news, Director David C. Habiger purchased 2,100 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was bought at an average cost of $47.59 per share, for a total transaction of $99,939.00. Following the acquisition, the director directly owned 17,160 shares of the company’s stock, valued at $816,644.40. This represents a 13.94% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael F. Mahoney purchased 186,240 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were purchased 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 $76,845,859.92. This trade represents a 13.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 204,322 shares of company stock worth $9,939,221. Company insiders own 0.34% of the company’s stock.

Boston Scientific 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.