Sumitomo Mitsui Trust Group Inc. Sells 34,648 Shares of Boston Scientific Corporation $BSX

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Boston Scientific Corporation (NYSE:BSX) by 1.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,422,813 shares of the medical equipment provider’s stock after selling 34,648 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Boston Scientific were worth $214,782,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. FWL Investment Management LLC bought a new position in Boston Scientific during the 2nd quarter worth $26,000. Swiss RE Ltd. bought a new stake in shares of Boston Scientific in the 4th quarter valued at about $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at about $26,000. Bangor Savings Bank raised its position in shares of Boston Scientific by 94.7% during the fourth quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 142 shares during the last quarter. Finally, Board of the Pension Protection Fund bought a new position in shares of Boston Scientific during the fourth quarter worth about $29,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 0.3%

Boston Scientific stock opened at $44.96 on Friday. The company has a market capitalization of $66.82 billion, a PE ratio of 18.81, a PEG ratio of 0.86 and a beta of 0.58. Boston Scientific Corporation has a 12-month low of $42.25 and a 12-month high of $109.50. The firm’s fifty day moving average is $49.66 and its 200 day moving average is $67.86. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.01. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. Boston Scientific has set its Q2 2026 guidance at 0.820-0.840 EPS and its FY 2026 guidance at 3.340-3.410 EPS. As a group, sell-side analysts predict that Boston Scientific Corporation will post 3.36 EPS for the current fiscal year.

Boston Scientific announced that its Board of Directors has approved a share buyback plan on Monday, May 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical equipment provider to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at Boston Scientific

In other news, Director Edward J. Ludwig purchased 3,580 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $56.68 per share, with a total value of $202,914.40. Following the purchase, the director owned 25,359 shares in the company, valued at $1,437,348.12. This represents a 16.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David C. Habiger purchased 2,250 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the acquisition, the director owned 13,878 shares of the company’s stock, valued at approximately $776,057.76. This represents a 19.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 9,800 shares of company stock valued at $554,012 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on BSX shares. Wolfe Research cut Boston Scientific from an “outperform” rating to a “peer perform” rating in a report on Friday, May 29th. Leerink Partners dropped their price target on shares of Boston Scientific from $87.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday, May 28th. Evercore set a $65.00 price objective on shares of Boston Scientific in a research note on Monday. Jefferies Financial Group decreased their price objective on shares of Boston Scientific from $100.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Boston Scientific in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.32.

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.