Encore Global Management LP Acquires New Holdings in Boston Scientific Corporation $BSX

Encore Global Management LP bought a new position in shares of Boston Scientific Corporation (NYSE:BSX) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 46,500 shares of the medical equipment provider’s stock, valued at approximately $2,918,000. Boston Scientific accounts for 2.0% of Encore Global Management LP’s holdings, making the stock its 19th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of Boston Scientific by 0.8% during the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock worth $2,445,000 after purchasing an additional 226 shares during the last quarter. FWL Investment Management LLC purchased a new position in Boston Scientific in the second quarter valued at about $26,000. Main Street Financial Solutions LLC grew its stake in Boston Scientific by 35.3% in the second quarter. Main Street Financial Solutions LLC now owns 7,556 shares of the medical equipment provider’s stock valued at $812,000 after purchasing an additional 1,971 shares during the last quarter. Ieq Capital LLC raised its holdings in Boston Scientific by 97.0% in the second quarter. Ieq Capital LLC now owns 123,592 shares of the medical equipment provider’s stock worth $13,275,000 after purchasing an additional 60,860 shares in the last quarter. Finally, HUB Investment Partners LLC raised its holdings in Boston Scientific by 56.2% in the second quarter. HUB Investment Partners LLC now owns 7,102 shares of the medical equipment provider’s stock worth $763,000 after purchasing an additional 2,556 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific News Roundup

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 Stock Performance

Shares of Boston Scientific stock opened at $46.04 on Wednesday. The firm has a market capitalization of $68.44 billion, a P/E ratio of 19.27, a PEG ratio of 0.87 and a beta of 0.58. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average price of $46.78 and a 200 day moving average price of $63.10. Boston Scientific Corporation has a 52 week low of $42.20 and a 52 week high of $109.50.

Boston Scientific declared that its Board of Directors has authorized a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

BSX has been the topic of a number of recent analyst reports. Needham & Company LLC lowered their price target on shares of Boston Scientific from $77.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Saturday. Robert W. Baird set a $70.00 target price on shares of Boston Scientific in a research report on Thursday, May 28th. Stifel Nicolaus lowered their target price on shares of Boston Scientific from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Boston Scientific in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $78.40.

Insider Buying and Selling at Boston Scientific

In related news, Director Edward J. Ludwig acquired 3,580 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $56.68 per share, with a total value of $202,914.40. Following the completion of the acquisition, the director directly owned 25,359 shares of the company’s stock, valued at $1,437,348.12. This represents a 16.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David C. Habiger bought 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $55.92 per share, for a total transaction of $125,820.00. Following the completion of the transaction, the director owned 13,878 shares in the company, valued at $776,057.76. This trade represents a 19.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 9,800 shares of company stock worth $554,012. 0.34% of the stock is owned by corporate insiders.

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.