Boston Scientific Corporation $BSX Shares Acquired by Royal Bank of Canada

Royal Bank of Canada increased its stake in Boston Scientific Corporation (NYSE:BSX) by 3.7% during the 1st quarter, HoldingsChannel reports. The firm owned 6,273,263 shares of the medical equipment provider’s stock after acquiring an additional 221,691 shares during the period. Royal Bank of Canada’s holdings in Boston Scientific were worth $393,647,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in BSX. Vanguard Group Inc. grew its position in shares of Boston Scientific by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider’s stock worth $13,319,060,000 after acquiring an additional 1,436,550 shares during the last quarter. State Street Corp grew its position in Boston Scientific by 1.4% in the 4th quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider’s stock valued at $6,278,422,000 after buying an additional 920,495 shares in the last quarter. Capital World Investors grew its position in Boston Scientific by 1.9% in the 4th quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider’s stock valued at $2,588,953,000 after buying an additional 502,627 shares in the last quarter. Norges Bank bought a new stake in shares of Boston Scientific during the 4th quarter worth about $2,199,395,000. Finally, Morgan Stanley lifted its stake in shares of Boston Scientific by 10.8% in the 4th quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider’s stock worth $2,189,289,000 after acquiring an additional 2,246,308 shares during the period. 89.07% of the stock is currently owned by institutional investors.

More Boston Scientific News

Here are the key news stories impacting Boston Scientific this week:

• Positive Sentiment: Boston Scientific’s board approved a global restructuring plan expected to generate approximately $500 million in annual cost savings by 2029. Management says the initiative is intended to improve efficiency and support future growth, which may strengthen long-term profitability. Reuters restructuring report
• Positive Sentiment: Investors are positioning ahead of Wednesday’s second-quarter results. Analysts reportedly expect revenue growth of about 5.9%, creating a potential catalyst if Boston Scientific delivers stronger-than-expected sales or guidance. Q2 earnings preview
• Positive Sentiment: The company’s FARAFLEX trial is advancing its pulsed-field ablation program for atrial fibrillation, potentially supporting Boston Scientific’s position in the growing cardiac-rhythm-treatment market. FARAFLEX trial update
• Neutral Sentiment: UBS maintained a Buy rating despite lowering its price target to $74 from $95. Oppenheimer likewise cut its target to $85 but retained an Outperform rating, indicating continued confidence but more cautious valuation assumptions. UBS price-target update
• Negative Sentiment: The restructuring will involve job cuts through 2029 and approximately $700 million in restructuring costs, creating near-term execution, employee-disruption and cash-flow concerns even though the plan promises future savings. Restructuring and job cuts report

Boston Scientific Trading Up 1.2%

Shares of BSX opened at $46.04 on Wednesday. The business’s 50-day moving average price is $46.78 and its 200 day moving average price is $63.10. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $68.44 billion, a P/E ratio of 19.27, a P/E/G ratio of 0.87 and a beta of 0.58. Boston Scientific Corporation has a 1-year low of $42.20 and a 1-year high of $109.50.

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

Insider Buying and Selling

In other news, Director Cheryl Pegus acquired 1,770 shares of the stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $56.49 per share, for a total transaction of $99,987.30. Following the transaction, the director owned 1,770 shares in the company, valued at approximately $99,987.30. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward J. Ludwig bought 3,580 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $56.68 per share, with a total value of $202,914.40. Following the transaction, the director owned 25,359 shares of the company’s stock, valued at $1,437,348.12. This trade represents a 16.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 9,800 shares of company stock valued at $554,012. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BSX shares. Barclays lowered their price objective on shares of Boston Scientific from $96.00 to $89.00 and set an “overweight” rating on the stock in a research note on Thursday, May 28th. Stifel Nicolaus decreased their price target on Boston Scientific from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Weiss Ratings cut Boston Scientific from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 7th. Royal Bank Of Canada dropped their price objective on Boston Scientific from $100.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Finally, Robert W. Baird set a $70.00 target price on Boston Scientific in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $78.40.

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.