Evolve Private Wealth LLC Purchases Shares of 13,789 Boston Scientific Corporation $BSX

Evolve Private Wealth LLC purchased a new position in Boston Scientific Corporation (NYSE:BSX) in the second quarter, HoldingsChannel reports. The institutional investor purchased 13,789 shares of the medical equipment provider’s stock, valued at approximately $589,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Varma Mutual Pension Insurance Co purchased a new stake in shares of Boston Scientific during the second quarter valued at $14,425,000. Westpac Banking Corp purchased a new position in Boston Scientific in the 2nd quarter worth $978,000. TRB Wealth Management LLC acquired a new stake in Boston Scientific during the 2nd quarter worth about $247,000. Sumitomo Life Insurance Co. acquired a new stake in Boston Scientific during the 2nd quarter worth about $7,569,000. Finally, William Blair Investment Management LLC purchased a new stake in Boston Scientific during the 2nd quarter valued at about $1,979,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director David C. Habiger bought 2,100 shares of the stock in a transaction dated Wednesday, August 5th. The shares were acquired at an average cost of $47.59 per share, with a total value of $99,939.00. Following the purchase, the director directly owned 17,160 shares in the company, valued at $816,644.40. The trade was a 13.94% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael F. Mahoney bought 186,240 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were acquired at an average price of $48.33 per share, for a total transaction of $9,000,979.20. Following the completion of the transaction, the chief executive officer directly owned 1,590,024 shares in the company, valued at approximately $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 quarter, insiders bought 194,522 shares of company stock worth $9,385,210. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BSX. Daiwa Securities Group lowered Boston Scientific from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Wolfe Research downgraded Boston Scientific from an “outperform” rating to a “peer perform” rating in a report on Friday, May 29th. UBS Group dropped their target price on Boston Scientific from $74.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Jefferies Financial Group cut their price target on shares of Boston Scientific from $100.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Finally, Barclays reduced their price target on shares of Boston Scientific from $96.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, May 28th. Twenty-four research 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $71.62.

Boston Scientific Price Performance

NYSE:BSX opened at $48.98 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 0.74. The company has a 50 day moving average price of $46.38 and a 200-day moving average price of $57.32. Boston Scientific Corporation has a 1-year low of $42.20 and a 1-year high of $109.50. The firm has a market cap of $70.99 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 1.10 and a beta of 0.56.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.38 billion. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $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. Equities research analysts forecast that Boston Scientific Corporation will post 3.3 EPS for the current year.

Boston Scientific declared that its Board of Directors has initiated a share repurchase plan on Monday, May 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is 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.