Saranac Partners Ltd Purchases Shares of 150,265 Boston Scientific Corporation $BSX

Saranac Partners Ltd purchased a new stake in Boston Scientific Corporation (NYSE:BSX) during the second quarter, HoldingsChannel reports. The institutional investor purchased 150,265 shares of the medical equipment provider’s stock, valued at approximately $6,424,000. Boston Scientific accounts for approximately 1.9% of Saranac Partners Ltd’s holdings, making the stock its 24th biggest position.

A number of other hedge funds have also modified their holdings of BSX. Renaissance Group LLC bought a new stake in Boston Scientific during the 4th quarter worth about $28,064,000. Perigon Wealth Management LLC bought a new position in shares of Boston Scientific in the 2nd quarter valued at about $883,000. Y Intercept Hong Kong Ltd grew its holdings 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 valued at $47,816,000 after acquiring an additional 670,060 shares in the last quarter. PensionDanmark Pensionsforsikringsaktieselskab increased its position in shares of Boston Scientific by 9.9% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 320,038 shares of the medical equipment provider’s stock valued at $13,659,000 after acquiring an additional 28,961 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new stake in Boston Scientific during the second quarter worth about $3,253,000. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on BSX. The Goldman Sachs Group set a $71.00 price target on Boston Scientific in a research report on Thursday, May 28th. UBS Group dropped their price objective on Boston Scientific from $74.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Piper Sandler reissued an “overweight” rating and issued a $65.00 price objective on shares of Boston Scientific in a report on Friday, June 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $60.00 target price on shares of Boston Scientific in a research note on Thursday, July 30th. Finally, Wolfe Research downgraded shares of Boston Scientific from an “outperform” rating to a “peer perform” rating in a report on Friday, May 29th. Twenty-four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.62.

Insider Activity at Boston Scientific

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

Boston Scientific Price Performance

Shares of NYSE BSX opened at $50.39 on Monday. The business’s 50 day moving average price is $46.34 and its two-hundred day moving average price is $57.62. The company has a market cap of $73.03 billion, a PE ratio of 20.40, a price-to-earnings-growth 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 Corporation has a twelve month low of $42.20 and a twelve month high of $109.50.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data 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 return on equity of 19.28% and a net margin of 17.50%.The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. The business’s revenue for the quarter 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. On average, analysts predict that Boston Scientific Corporation will post 3.3 EPS for the current year.

Boston Scientific announced that its board has authorized a stock buyback program on Monday, May 18th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical equipment provider to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.