Primecap Management Co. CA Makes New Investment in Boston Scientific Corporation $BSX

Primecap Management Co. CA bought a new position in shares of Boston Scientific Corporation (NYSE:BSX) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 50,520,914 shares of the medical equipment provider’s stock, valued at approximately $2,156,233,000. Boston Scientific accounts for approximately 1.3% of Primecap Management Co. CA’s holdings, making the stock its 19th biggest holding. Primecap Management Co. CA owned about 3.49% of Boston Scientific at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Boston Scientific during the second quarter valued at approximately $5,534,781,000. Norges Bank acquired a new stake in Boston Scientific in the fourth quarter worth $2,199,395,000. Legal & General Group Plc acquired a new stake in Boston Scientific in the second quarter worth $431,890,000. Canada Pension Plan Investment Board bought a new position in shares of Boston Scientific during the second quarter worth $395,319,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Boston Scientific in the 2nd quarter valued at $339,031,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Trading Up 1.7%

Shares of NYSE:BSX opened at $49.86 on Wednesday. Boston Scientific Corporation has a 12 month low of $42.20 and a 12 month 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 company’s fifty day simple moving average is $46.44 and its 200 day simple moving average is $57.14. The firm has a market cap 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 (NYSE:BSX) last announced its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.38 billion. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $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. As a group, research analysts forecast that Boston Scientific Corporation will post 3.3 EPS for the current fiscal year.

Boston Scientific announced that its Board of Directors has approved 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 reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BSX shares. Stifel Nicolaus set a $60.00 price objective on shares of Boston Scientific in a research report on Wednesday, July 29th. Canaccord Genuity Group reduced their target price on Boston Scientific from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Robert W. Baird set a $56.00 target price on Boston Scientific in a research note on Thursday, July 30th. Truist Financial lowered their price target on Boston Scientific from $62.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Argus reaffirmed a “hold” rating on shares of Boston Scientific in a research report on Friday, July 31st. Twenty-four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $71.62.

Insider Transactions at Boston Scientific

In other news, Director Edward J. Ludwig acquired 5,000 shares of Boston Scientific stock in a transaction dated Friday, July 31st. The stock was bought 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 of the company’s stock, valued at approximately $1,380,727.32. This represents a 19.72% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David C. Habiger acquired 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were 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 owned 17,160 shares of the company’s stock, valued at $816,644.40. This represents a 13.94% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 194,522 shares of company stock valued at $9,385,210 over the last three months. Company insiders own 0.34% of the company’s stock.

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.