The Manufacturers Life Insurance Company Purchases 1,601,237 Shares of Boston Scientific Corporation $BSX

The Manufacturers Life Insurance Company lifted its position in Boston Scientific Corporation (NYSE:BSX) by 155.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,629,613 shares of the medical equipment provider’s stock after acquiring an additional 1,601,237 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.18% of Boston Scientific worth $165,008,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Glen Eagle Advisors LLC lifted its position in shares of Boston Scientific by 63.3% during the first quarter. Glen Eagle Advisors LLC now owns 21,617 shares of the medical equipment provider’s stock valued at $1,356,000 after purchasing an additional 8,380 shares in the last quarter. Lazard Asset Management LLC grew its stake in Boston Scientific by 24.8% in the 1st quarter. Lazard Asset Management LLC now owns 4,880,504 shares of the medical equipment provider’s stock valued at $306,252,000 after purchasing an additional 970,473 shares during the period. Gateway Wealth Partners LLC purchased a new stake in Boston Scientific during the first quarter worth about $228,000. Weiss Asset Management LP purchased a new stake in shares of Boston Scientific during the 1st quarter worth approximately $821,000. Finally, Delta Global Management LP purchased a new stake in Boston Scientific in the first quarter worth $1,758,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on BSX shares. Oppenheimer lowered their price target on shares of Boston Scientific from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday. Wolfe Research downgraded shares of Boston Scientific from an “outperform” rating to a “peer perform” rating in a report on Friday, May 29th. Evercore set a $65.00 price objective on shares of Boston Scientific in a research note on Monday, July 6th. Canaccord Genuity Group lowered their target price on shares of Boston Scientific from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. Finally, Needham & Company LLC cut their price target on shares of Boston Scientific from $77.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.40.

Boston Scientific Stock Up 1.2%

Shares of NYSE BSX opened at $46.04 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average of $46.78 and a 200-day moving average of $63.10. The firm has a market capitalization of $68.44 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 0.87 and a beta of 0.58. Boston Scientific Corporation has a 12 month low of $42.20 and a 12 month high of $109.50.

Boston Scientific (NYSE:BSX) last announced 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. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.36 billion. Sell-side analysts expect that Boston Scientific Corporation will post 3.35 earnings per share for the current fiscal year.

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

Insider Transactions at Boston Scientific

In other news, Director Cheryl Pegus purchased 1,770 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $56.49 per share, with a total value of $99,987.30. Following the completion of the purchase, the director directly owned 1,770 shares in the company, valued at approximately $99,987.30. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Ludwig acquired 3,580 shares of Boston Scientific stock in a transaction dated 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 completion of the transaction, the director directly owned 25,359 shares in the company, valued at approximately $1,437,348.12. The trade was a 16.44% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 9,800 shares of company stock valued at $554,012. Insiders own 0.34% of the company’s stock.

Boston Scientific News Roundup

Here are the key news stories impacting Boston Scientific this week:

• Positive Sentiment: Boston Scientific’s board approved a global restructuring plan expected to generate approximately $500 million in annual cost savings by 2029. Management says the initiative is intended to improve efficiency and support future growth, which may strengthen long-term profitability. Reuters restructuring report
• Positive Sentiment: Investors are positioning ahead of Wednesday’s second-quarter results. Analysts reportedly expect revenue growth of about 5.9%, creating a potential catalyst if Boston Scientific delivers stronger-than-expected sales or guidance. Q2 earnings preview
• Positive Sentiment: The company’s FARAFLEX trial is advancing its pulsed-field ablation program for atrial fibrillation, potentially supporting Boston Scientific’s position in the growing cardiac-rhythm-treatment market. FARAFLEX trial update
• Neutral Sentiment: UBS maintained a Buy rating despite lowering its price target to $74 from $95. Oppenheimer likewise cut its target to $85 but retained an Outperform rating, indicating continued confidence but more cautious valuation assumptions. UBS price-target update
• Negative Sentiment: The restructuring will involve job cuts through 2029 and approximately $700 million in restructuring costs, creating near-term execution, employee-disruption and cash-flow concerns even though the plan promises future savings. Restructuring and job cuts report

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.