Royal Bank of Canada Boosts Stock Position in Boston Scientific Corporation $BSX

Royal Bank of Canada grew its position in shares of Boston Scientific Corporation (NYSE:BSX) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,273,263 shares of the medical equipment provider’s stock after purchasing an additional 221,691 shares during the period. Royal Bank of Canada owned 0.42% of Boston Scientific worth $393,647,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Renaissance Group LLC acquired a new stake in shares of Boston Scientific in the fourth quarter worth approximately $28,064,000. Rathbones Group PLC raised its stake in Boston Scientific by 20.9% during the fourth quarter. Rathbones Group PLC now owns 2,759,657 shares of the medical equipment provider’s stock worth $263,133,000 after purchasing an additional 477,680 shares during the period. Meiji Yasuda America Inc acquired a new position in shares of Boston Scientific in the 4th quarter valued at $4,708,000. Allspring Global Investments Holdings LLC grew its stake in shares of Boston Scientific by 6.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,173,399 shares of the medical equipment provider’s stock valued at $205,843,000 after buying an additional 139,004 shares during the period. Finally, Brookstone Capital Management increased its holdings in shares of Boston Scientific by 41.7% during the 4th quarter. Brookstone Capital Management now owns 183,197 shares of the medical equipment provider’s stock worth $17,468,000 after buying an additional 53,876 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other news, Director Edward J. Ludwig purchased 3,580 shares of the stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $56.68 per share, for a total transaction of $202,914.40. Following the acquisition, the director owned 25,359 shares of the company’s stock, valued at $1,437,348.12. The trade was a 16.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David C. Habiger acquired 2,250 shares of Boston Scientific stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the completion of the purchase, the director directly owned 13,878 shares of the company’s stock, valued at $776,057.76. The trade was a 19.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 9,800 shares of company stock worth $554,012 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Key Headlines Impacting Boston Scientific

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 Stock Performance

Shares of Boston Scientific stock opened at $46.04 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90. Boston Scientific Corporation has a 1 year low of $42.20 and a 1 year high of $109.50. The firm’s 50-day simple moving average is $46.78 and its 200-day simple moving average is $63.10. The firm has a market cap of $68.44 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 0.87 and a beta of 0.58.

Boston Scientific declared that its board has initiated a share buyback program on Monday, May 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical equipment provider to repurchase 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.

Analyst Ratings Changes

A number of research analysts recently weighed in on BSX shares. Barclays reduced their target price on Boston Scientific from $96.00 to $89.00 and set an “overweight” rating on the stock in a report on Thursday, May 28th. Jefferies Financial Group decreased their target price on Boston Scientific from $100.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Daiwa Securities Group downgraded shares of Boston Scientific from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. BTIG Research reissued a “buy” rating and set a $65.00 target price on shares of Boston Scientific in a research report on Tuesday, June 16th. Finally, Zacks Research lowered shares of Boston Scientific from a “hold” rating to a “strong sell” rating in a report on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.40.

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.