The Manufacturers Life Insurance Company Acquires 1,601,237 Shares of Boston Scientific Corporation $BSX

The Manufacturers Life Insurance Company raised its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 155.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,629,613 shares of the medical equipment provider’s stock after buying an additional 1,601,237 shares during the period. The Manufacturers Life Insurance Company’s holdings in Boston Scientific were worth $165,008,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BSX. Vanguard Group Inc. lifted its stake in shares of Boston Scientific by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider’s stock valued at $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% during the 4th quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider’s stock worth $6,278,422,000 after acquiring an additional 920,495 shares during the last quarter. Capital World Investors lifted its position in Boston Scientific by 1.9% in the fourth quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider’s stock valued at $2,588,953,000 after purchasing an additional 502,627 shares during the last quarter. Norges Bank purchased a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $2,199,395,000. Finally, Morgan Stanley grew its holdings in shares of Boston Scientific by 10.8% in the fourth quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider’s stock worth $2,189,289,000 after purchasing an additional 2,246,308 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific News Summary

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

Analyst Upgrades and Downgrades

BSX has been the subject of a number of recent analyst reports. Evercore set a $65.00 price target on shares of Boston Scientific in a report on Monday, July 6th. Stifel Nicolaus cut their price target on shares of Boston Scientific from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Needham & Company LLC decreased their price objective on shares of Boston Scientific from $77.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Jefferies Financial Group lowered 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 note on Wednesday, June 24th. Finally, Truist Financial dropped their target price on shares of Boston Scientific from $64.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.40.

Boston Scientific Trading Up 1.2%

NYSE:BSX opened at $46.04 on Wednesday. The company has a 50-day moving average price of $46.78 and a 200-day moving average price of $63.10. The stock has a market cap of $68.44 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 0.87 and a beta of 0.58. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. Boston Scientific Corporation has a 12 month low of $42.20 and a 12 month high of $109.50.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.36 billion. Equities analysts predict that Boston Scientific Corporation will post 3.35 EPS for the current year.

Boston Scientific announced that its board has authorized a share buyback program on Monday, May 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical equipment provider to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig bought 3,580 shares of Boston Scientific stock in a transaction on Wednesday, May 20th. The shares were purchased at an average price of $56.68 per share, for a total transaction of $202,914.40. Following the acquisition, the director owned 25,359 shares of the company’s stock, valued at approximately $1,437,348.12. The trade was 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 link. Also, Director Cheryl Pegus bought 1,770 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average cost of $56.49 per share, with a total value 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 position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 9,800 shares of company stock worth $554,012. Company insiders own 0.34% of the company’s stock.

Boston Scientific 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.