Sumitomo Life Insurance Co. Makes New $7.57 Million Investment in Boston Scientific Corporation $BSX

Sumitomo Life Insurance Co. acquired a new stake in shares of Boston Scientific Corporation (NYSE:BSX) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 177,353 shares of the medical equipment provider’s stock, valued at approximately $7,569,000.

Other hedge funds also recently made changes to their positions in the company. Kelleher Financial Advisors bought a new position in Boston Scientific in the second quarter valued at $25,000. FWL Investment Management LLC bought a new stake in Boston Scientific during the second quarter worth about $26,000. Swiss RE Ltd. bought a new stake in Boston Scientific during the fourth quarter worth about $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Boston Scientific in the 4th quarter worth about $26,000. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Boston Scientific during the 1st quarter valued at about $28,000. 89.07% of the stock is owned by institutional investors.

Insider Activity at Boston Scientific

In other news, Director Edward J. Ludwig purchased 5,000 shares of the company’s stock in a transaction on Friday, July 31st. The stock was acquired at an average price of $45.48 per share, with a total value of $227,400.00. Following the transaction, the director directly owned 30,359 shares of the company’s stock, valued at approximately $1,380,727.32. This represents a 19.72% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David C. Habiger purchased 2,100 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was purchased at an average cost of $47.59 per share, for a total transaction of $99,939.00. Following the acquisition, the director owned 17,160 shares in the company, valued at approximately $816,644.40. The trade was a 13.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 194,522 shares of company stock worth $9,385,210 in the last three months. 0.34% of the stock is owned by insiders.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $50.39 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 0.74. 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 $46.34 and its two-hundred day simple moving average is $57.86. The stock has a market capitalization of $73.03 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. Boston Scientific had a return on equity of 19.28% and a net margin of 17.50%.The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.38 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. Boston Scientific has set its Q3 2026 guidance at 0.800-0.820 EPS and its FY 2026 guidance at 3.280-3.320 EPS. Analysts forecast that Boston Scientific Corporation will post 3.3 EPS for the current year.

Boston Scientific declared that its board has approved a share repurchase 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 shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Mizuho decreased their price objective on Boston Scientific from $90.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, July 15th. Barclays cut their target price on Boston Scientific from $96.00 to $89.00 and set an “overweight” rating for the company in a research note on Thursday, May 28th. Bank of America reduced their price target on shares of Boston Scientific from $105.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. BTIG Research lowered their price objective on shares of Boston Scientific from $65.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. Finally, Wells Fargo & Company cut their price objective on shares of Boston Scientific from $55.00 to $50.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Twenty-four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.62.

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.