Connor Clark & Lunn Investment Management Ltd. Invests $62.62 Million in Boston Scientific Corporation $BSX

Connor Clark & Lunn Investment Management Ltd. bought a new position in Boston Scientific Corporation (NYSE:BSX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,467,148 shares of the medical equipment provider’s stock, valued at approximately $62,618,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.10% of Boston Scientific as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the stock. Meiji Yasuda Asset Management Co Ltd. acquired a new position in Boston Scientific during the second quarter worth approximately $433,000. LM Advisors LLC purchased a new position in Boston Scientific during the second quarter worth approximately $294,000. Clear Harbor Asset Management LLC acquired a new position in shares of Boston Scientific in the 2nd quarter valued at $799,000. First Nebraska Trust Co acquired a new position in shares of Boston Scientific in the 2nd quarter valued at $4,915,000. Finally, Bank of Nova Scotia purchased a new stake in shares of Boston Scientific during the 2nd quarter valued at $56,496,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BSX shares. Canaccord Genuity Group dropped their price objective on Boston Scientific from $70.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Daiwa Securities Group cut Boston Scientific from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Oppenheimer lowered their price target on Boston Scientific from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, July 27th. Evercore set a $65.00 price target on Boston Scientific in a research note on Monday, July 6th. Finally, Bank of America cut their price objective on Boston Scientific from $105.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, May 18th. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.62.

Insiders Place Their Bets

In related news, CEO Michael F. Mahoney bought 186,240 shares of the stock in a transaction dated Monday, August 3rd. The stock was acquired at an average price of $48.33 per share, for a total transaction of $9,000,979.20. Following the completion of the purchase, the chief executive officer owned 1,590,024 shares in the company, valued at $76,845,859.92. This represents a 13.27% 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 David C. Habiger bought 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were bought at an average price of $47.59 per share, for a total transaction of $99,939.00. Following the completion of the acquisition, the director owned 17,160 shares in the company, valued at approximately $816,644.40. This trade represents a 13.94% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 194,522 shares of company stock worth $9,385,210 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Boston Scientific Price Performance

Boston Scientific stock opened at $50.39 on Monday. The firm has a fifty day moving average of $46.34 and a 200-day moving average of $57.62. 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 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $73.03 billion, a P/E ratio of 20.40, a PEG ratio of 1.10 and a beta of 0.56.

Boston Scientific (NYSE:BSX) last posted its 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. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same quarter in the previous year, the business posted $0.75 EPS. The business’s quarterly revenue was up 7.5% on a year-over-year basis. 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. As a group, analysts predict that Boston Scientific Corporation will post 3.3 EPS for the current year.

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