Sumitomo Life Insurance Co. Buys New Position in Boston Scientific Corporation $BSX

Sumitomo Life Insurance Co. purchased a new position in Boston Scientific Corporation (NYSE:BSX) in the second quarter, Holdings Channel.com reports. The fund purchased 177,353 shares of the medical equipment provider’s stock, valued at approximately $7,569,000.

Other large investors have also added to or reduced their stakes in the company. Kelleher Financial Advisors bought a new position in Boston Scientific in the 2nd quarter worth $25,000. FWL Investment Management LLC bought a new stake in shares of Boston Scientific during the 2nd quarter valued at about $26,000. Swiss RE Ltd. bought a new stake in shares of Boston Scientific during the 4th quarter valued at about $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Boston Scientific during the fourth quarter valued at about $26,000. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in Boston Scientific in the first quarter worth about $28,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $50.39 on Friday. The company has a 50 day simple moving average of $46.34 and a two-hundred day simple moving average of $57.86. Boston Scientific Corporation has a fifty-two week low of $42.20 and a fifty-two week high of $109.50. The company has a market capitalization of $73.03 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 1.08 and a beta of 0.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 1.24.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 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 analysts’ expectations of $5.38 billion. Boston Scientific had a return on equity of 19.28% and a net margin of 17.50%.The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. 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. Analysts expect that Boston Scientific Corporation will post 3.3 EPS for the current fiscal year.

Boston Scientific declared that its Board of Directors has initiated a stock repurchase program on Monday, May 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical equipment provider to purchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have commented on BSX. Raymond James Financial restated an “outperform” rating and issued a $57.00 price objective on shares of Boston Scientific in a report on Thursday, July 30th. Daiwa Securities Group lowered Boston Scientific from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Stifel Nicolaus set a $60.00 target price on Boston Scientific in a research note on Wednesday, July 29th. Wolfe Research cut Boston Scientific from an “outperform” rating to a “peer perform” rating in a research note on Friday, May 29th. Finally, Robert W. Baird set a $56.00 price objective on Boston Scientific in a report on Thursday, July 30th. Twenty-four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.62.

Insider Buying and Selling at Boston Scientific

In related news, CEO Michael F. Mahoney purchased 186,240 shares of Boston Scientific stock in a transaction dated Monday, August 3rd. The stock was purchased at an average cost of $48.33 per share, for a total transaction of $9,000,979.20. Following the completion of the acquisition, the chief executive officer directly owned 1,590,024 shares of the company’s stock, valued at $76,845,859.92. The trade was a 13.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David C. Habiger purchased 2,100 shares of the stock in a transaction dated Wednesday, August 5th. The stock was bought at an average cost of $47.59 per share, with a total value of $99,939.00. Following the transaction, the director owned 17,160 shares in the company, valued at $816,644.40. The trade was a 13.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 194,522 shares of company stock worth $9,385,210. 0.34% of the stock is owned by insiders.

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.