Citizens Financial Group Inc. RI Invests $936,000 in Boston Scientific Corporation $BSX

Citizens Financial Group Inc. RI purchased a new stake in shares of Boston Scientific Corporation (NYSE:BSX) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 21,934 shares of the medical equipment provider’s stock, valued at approximately $936,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Group LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at approximately $28,064,000. Y Intercept Hong Kong Ltd grew its stake in shares of Boston Scientific by 148.8% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 1,120,331 shares of the medical equipment provider’s stock worth $47,816,000 after buying an additional 670,060 shares during the last quarter. PensionDanmark Pensionsforsikringsaktieselskab increased its position in Boston Scientific by 9.9% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 320,038 shares of the medical equipment provider’s stock valued at $13,659,000 after buying an additional 28,961 shares in the last quarter. Meiji Yasuda America Inc purchased a new position in Boston Scientific during the fourth quarter valued at $4,708,000. Finally, S&CO Inc. purchased a new position in Boston Scientific during the second quarter valued at $7,246,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the topic of a number of recent analyst reports. BTIG Research cut their price target on shares of Boston Scientific from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Canaccord Genuity Group decreased their target price on shares of Boston Scientific from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. UBS Group lowered their price target on Boston Scientific from $74.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Oppenheimer dropped their price target on Boston Scientific from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, July 27th. Finally, Stifel Nicolaus set a $60.00 price objective on Boston Scientific in a research report on Wednesday, July 29th. Twenty-four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.62.

Boston Scientific Trading Down 1.8%

Boston Scientific stock opened at $50.51 on Wednesday. Boston Scientific Corporation has a 12-month low of $42.20 and a 12-month high of $109.50. The firm has a market capitalization of $73.20 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 1.13 and a beta of 0.56. The firm has a 50 day moving average of $46.15 and a 200 day moving average of $58.50. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.38 billion. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 earnings per share. 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. As a group, research analysts predict that Boston Scientific Corporation will post 3.3 earnings per share for the current year.

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 repurchase up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

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