Connor Clark & Lunn Investment Management Ltd. Purchases New Shares in Boston Scientific Corporation $BSX

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Boston Scientific Corporation (NYSE:BSX) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 1,467,148 shares of the medical equipment provider’s stock, valued at approximately $62,618,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Boston Scientific in the 2nd quarter valued at about $433,000. LM Advisors LLC purchased a new stake in shares of Boston Scientific during the second quarter worth about $294,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Boston Scientific during the second quarter worth about $799,000. First Nebraska Trust Co acquired a new position in shares of Boston Scientific in the second quarter worth about $4,915,000. Finally, Bank of Nova Scotia acquired a new position in shares of Boston Scientific in the second quarter worth about $56,496,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Up 0.0%

Shares of NYSE BSX opened at $50.39 on Monday. The stock’s 50 day moving average price is $46.34 and its two-hundred day moving average price is $57.62. Boston Scientific Corporation has a 52-week low of $42.20 and a 52-week high of $109.50. The stock has a market capitalization of $73.03 billion, a P/E ratio of 20.40, a PEG ratio of 1.10 and a beta of 0.56. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 0.43.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.83 by $0.03. Boston Scientific had a return on equity of 19.28% and a net margin of 17.50%.The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.38 billion. During the same quarter last year, the firm earned $0.75 EPS. The business’s revenue was up 7.5% on a year-over-year basis. 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. On average, analysts anticipate that Boston Scientific Corporation will post 3.3 earnings per share for the current fiscal year.

Boston Scientific declared that its Board of Directors has initiated 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 buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Boston Scientific news, CEO Michael F. Mahoney bought 186,240 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were bought at an average cost of $48.33 per share, with a total value of $9,000,979.20. Following the completion of the acquisition, the chief executive officer owned 1,590,024 shares of the company’s stock, valued at approximately $76,845,859.92. This trade represents a 13.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David C. Habiger purchased 2,100 shares of Boston Scientific stock in a transaction dated Wednesday, August 5th. The stock was acquired at an average price of $47.59 per share, for a total transaction of $99,939.00. Following the completion of the transaction, the director owned 17,160 shares in the company, valued at approximately $816,644.40. The trade was a 13.94% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 194,522 shares of company stock worth $9,385,210 over the last ninety days. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BSX shares. Stifel Nicolaus set a $60.00 price objective on Boston Scientific in a research note on Wednesday, July 29th. Leerink Partners set a $60.00 target price on Boston Scientific in a research report on Thursday, July 30th. Mizuho reduced their target price on Boston Scientific from $90.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, July 15th. The Goldman Sachs Group set a $71.00 price target on shares of Boston Scientific in a research report on Thursday, May 28th. Finally, Citigroup dropped their price target on shares of Boston Scientific from $70.00 to $61.00 and set a “buy” 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.