Jennison Associates LLC Sells 4,570,520 Shares of Boston Scientific Corporation $BSX

Jennison Associates LLC decreased its holdings in Boston Scientific Corporation (NYSE:BSX) by 83.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 897,775 shares of the medical equipment provider’s stock after selling 4,570,520 shares during the quarter. Jennison Associates LLC owned 0.06% of Boston Scientific worth $56,335,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in BSX. FWL Investment Management LLC bought a new position in Boston Scientific during the second quarter worth about $26,000. Swiss RE Ltd. acquired a new stake in Boston Scientific during the fourth quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Boston Scientific in the 4th quarter valued at approximately $26,000. Bangor Savings Bank grew its stake in shares of Boston Scientific by 94.7% in the 4th quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 142 shares during the period. Finally, Sfam LLC acquired a new position in shares of Boston Scientific in the 4th quarter worth approximately $29,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Boston Scientific

In related news, Director Cheryl Pegus purchased 1,770 shares of Boston Scientific stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the transaction, the director directly owned 1,770 shares in the company, valued at approximately $99,987.30. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David C. Habiger purchased 2,250 shares of Boston Scientific stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the transaction, the director owned 13,878 shares in the company, valued at $776,057.76. This represents a 19.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 9,800 shares of company stock worth $554,012. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BSX. Wolfe Research downgraded Boston Scientific from an “outperform” rating to a “peer perform” rating in a research report on Friday, May 29th. Royal Bank Of Canada lowered their price target on Boston Scientific from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. BTIG Research reiterated a “buy” rating and set a $65.00 price objective on shares of Boston Scientific in a research note on Tuesday, June 16th. Raymond James Financial reissued an “outperform” rating and set a $88.00 price objective (down from $97.00) on shares of Boston Scientific in a report on Monday, March 30th. Finally, Truist Financial reduced their target price on shares of Boston Scientific from $64.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $79.84.

Boston Scientific Stock Down 0.2%

Shares of BSX opened at $43.95 on Monday. The company has a market capitalization of $65.33 billion, a P/E ratio of 18.39, a PEG ratio of 0.84 and a beta of 0.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22. Boston Scientific Corporation has a one year low of $42.20 and a one year high of $109.50. The business’s 50 day simple moving average is $48.18 and its 200-day simple moving average is $65.66.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the firm posted $0.75 EPS. The business’s revenue was up 11.6% on a year-over-year basis. 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 3.35 EPS for the current fiscal year.

Boston Scientific declared that its Board of Directors has authorized a share buyback program on Monday, May 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical equipment provider to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management 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.