OVERSEA CHINESE BANKING Corp Ltd Takes Position in Boston Scientific Corporation $BSX

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Boston Scientific Corporation (NYSE:BSX) in the second quarter, Holdings Channel.com reports. The firm purchased 23,218 shares of the medical equipment provider’s stock, valued at approximately $998,000.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on BSX shares. Royal Bank Of Canada dropped their price objective on shares of Boston Scientific from $85.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Argus reiterated a “hold” rating on shares of Boston Scientific in a research report on Friday, July 31st. Bank of America lowered their target price on Boston Scientific from $105.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Mizuho dropped their target price on Boston Scientific from $90.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Finally, Canaccord Genuity Group cut their price target on Boston Scientific from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Twenty-four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $71.62.

Insider Buying and Selling

In related news, CEO Michael F. Mahoney acquired 186,240 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was acquired at an average price of $48.33 per share, for a total transaction of $9,000,979.20. Following the completion of the acquisition, the chief executive officer owned 1,590,024 shares of the company’s stock, valued at $76,845,859.92. This trade represents a 13.27% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David C. Habiger bought 2,100 shares of Boston Scientific stock in a transaction on Wednesday, August 5th. The shares were bought at an average price of $47.59 per share, for a total transaction of $99,939.00. Following the acquisition, the director owned 17,160 shares of the company’s stock, valued at approximately $816,644.40. The trade was a 13.94% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 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 Trading Up 2.1%

Shares of NYSE BSX opened at $50.39 on Friday. The company’s 50 day simple moving average is $46.34 and its 200 day simple moving average is $57.86. Boston Scientific Corporation has a fifty-two week low of $42.20 and a fifty-two week high of $109.50. The firm has a market capitalization of $73.03 billion, a P/E 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 current ratio of 1.24 and a quick ratio of 0.74.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating 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 net margin of 17.50% and a return on equity of 19.28%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $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. On average, analysts predict that Boston Scientific Corporation will post 3.3 EPS for the current year.

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

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.