Man Group plc Invests $137.65 Million in Boston Scientific Corporation $BSX

Man Group plc purchased a new stake in shares of Boston Scientific Corporation (NYSE:BSX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,225,164 shares of the medical equipment provider’s stock, valued at approximately $137,650,000. Man Group plc owned approximately 0.22% of Boston Scientific as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Kelleher Financial Advisors bought a new position in shares of Boston Scientific during the 2nd quarter worth $25,000. FWL Investment Management LLC bought a new stake in shares of Boston Scientific in the second quarter valued at about $26,000. Swiss RE Ltd. purchased a new stake in Boston Scientific in the fourth quarter worth about $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in Boston Scientific in the fourth quarter worth about $26,000. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in Boston Scientific during the 1st quarter worth about $28,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on BSX. Wells Fargo & Company cut their target price on shares of Boston Scientific from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Daiwa Securities Group downgraded shares of Boston Scientific from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Citigroup cut their price objective on shares of Boston Scientific from $70.00 to $61.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Robert W. Baird set a $56.00 price objective on shares of Boston Scientific in a research note on Thursday, July 30th. Finally, Needham & Company LLC lowered their target price on Boston Scientific from $77.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Twenty-four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.62.

Insiders Place Their Bets

In other news, Director David C. Habiger bought 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was purchased at an average price of $47.59 per share, with a total value of $99,939.00. Following the completion of the acquisition, the director directly owned 17,160 shares of the company’s stock, valued at $816,644.40. This trade represents a 13.94% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig purchased 5,000 shares of Boston Scientific stock in a transaction on Friday, July 31st. The shares were acquired at an average cost of $45.48 per share, with a total value of $227,400.00. Following the completion of the transaction, the director directly owned 30,359 shares in the company, valued at $1,380,727.32. The trade was a 19.72% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 194,522 shares of company stock valued at $9,385,210. 0.34% of the stock is owned by company insiders.

Boston Scientific Trading Up 1.7%

Shares of Boston Scientific stock opened at $49.86 on Wednesday. The firm’s 50 day simple moving average is $46.44 and its two-hundred day simple moving average is $57.14. The firm has a market capitalization of $72.26 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.07 and a beta of 0.56. Boston Scientific Corporation has a 12-month low of $42.20 and a 12-month high of $109.50. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data 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 17.50% and a return on equity of 19.28%. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. 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 predict that Boston Scientific Corporation will post 3.3 EPS for the current year.

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

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.