Legal & General Group Plc Takes $431.89 Million Position in Boston Scientific Corporation $BSX

Legal & General Group Plc purchased a new position in shares of Boston Scientific Corporation (NYSE:BSX) in the 2nd quarter, Holdings Channel reports. The fund purchased 10,119,264 shares of the medical equipment provider’s stock, valued at approximately $431,890,000.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Boston Scientific in the 2nd quarter worth about $5,534,781,000. State Street Corp raised its holdings in shares of Boston Scientific by 1.4% during the fourth quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider’s stock valued at $6,278,422,000 after buying an additional 920,495 shares during the last quarter. Capital World Investors raised its holdings in shares of Boston Scientific by 1.9% during the fourth quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider’s stock valued at $2,588,953,000 after buying an additional 502,627 shares during the last quarter. Norges Bank acquired a new position in shares of Boston Scientific during the fourth quarter worth approximately $2,199,395,000. Finally, Morgan Stanley boosted its position in shares of Boston Scientific by 10.8% during the fourth quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider’s stock worth $2,189,289,000 after buying an additional 2,246,308 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $49.86 on Wednesday. The stock has a market cap of $72.26 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 1.07 and a beta of 0.56. The business has a fifty day simple moving average of $46.44 and a 200-day simple moving average of $57.14. The company has a quick ratio of 0.74, a current ratio of 1.24 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 posted its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. The firm had revenue of $5.44 billion for 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 quarterly 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. On average, sell-side analysts anticipate that Boston Scientific Corporation will post 3.3 EPS for the current fiscal year.

Boston Scientific declared that its Board of Directors has authorized a stock repurchase program on Monday, May 18th that permits the company to repurchase $5.00 billion in outstanding 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 often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Boston Scientific

In related news, CEO Michael F. Mahoney acquired 186,240 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 1,590,024 shares of the company’s stock, valued at approximately $76,845,859.92. This trade represents a 13.27% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Edward J. Ludwig bought 5,000 shares of the business’s stock in a transaction on Friday, July 31st. The stock was bought at an average price of $45.48 per share, with a total value of $227,400.00. Following the transaction, the director owned 30,359 shares in the company, valued at approximately $1,380,727.32. This represents a 19.72% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 194,522 shares of company stock valued at $9,385,210 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on BSX. Barclays decreased their price objective on shares of Boston Scientific from $96.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, May 28th. TD Cowen reaffirmed a “buy” rating and set a $56.00 target price on shares of Boston Scientific in a report on Tuesday. BTIG Research decreased their price target on Boston Scientific from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $60.00 price target on shares of Boston Scientific in a research note on Thursday, July 30th. Finally, Wall Street Zen downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Twenty-four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $71.62.

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.