Primecap Management Co. CA Makes New $2.16 Billion Investment in Boston Scientific Corporation $BSX

Primecap Management Co. CA acquired a new position in shares of Boston Scientific Corporation (NYSE:BSX) in the second quarter, HoldingsChannel.com reports. The firm acquired 50,520,914 shares of the medical equipment provider’s stock, valued at approximately $2,156,233,000. Boston Scientific makes up about 1.3% of Primecap Management Co. CA’s holdings, making the stock its 19th largest position.

Other hedge funds also recently modified their holdings of the company. Kelleher Financial Advisors bought a new stake in Boston Scientific during the second quarter worth about $25,000. FWL Investment Management LLC acquired a new position in shares of Boston Scientific during the 2nd quarter worth approximately $26,000. Swiss RE Ltd. acquired a new position in shares of Boston Scientific during the 4th quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Boston Scientific during the 4th quarter worth approximately $26,000. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Boston Scientific in the 1st quarter valued at approximately $28,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 1.7%

BSX stock opened at $49.86 on Wednesday. Boston Scientific Corporation has a 1-year low of $42.20 and a 1-year high of $109.50. The business’s 50 day simple moving average is $46.44 and its 200 day simple moving average is $57.14. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $72.26 billion, a PE ratio of 20.19, a PEG ratio of 1.07 and a beta of 0.56.

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 return on equity of 19.28% and a net margin of 17.50%.The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.38 billion. During the same quarter last year, the firm posted $0.75 EPS. The company’s quarterly 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. As a group, research analysts anticipate that Boston Scientific Corporation will post 3.3 EPS for the current year.

Boston Scientific declared that its board has approved a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Boston Scientific

In other news, Director Edward J. Ludwig acquired 5,000 shares of Boston Scientific stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $45.48 per share, for a total transaction of $227,400.00. Following the completion of the acquisition, the director directly owned 30,359 shares in the company, valued at approximately $1,380,727.32. The trade was a 19.72% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael F. Mahoney purchased 186,240 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were purchased 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 in the company, valued at $76,845,859.92. The trade was a 13.27% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 194,522 shares of company stock worth $9,385,210. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BSX shares. Bank of America decreased their target price on shares of Boston Scientific from $105.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Daiwa Securities Group cut shares of Boston Scientific from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. UBS Group decreased their price objective on shares of Boston Scientific from $74.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $60.00 price objective on shares of Boston Scientific in a research note on Thursday, July 30th. Finally, Needham & Company LLC dropped their target price on shares of Boston Scientific from $77.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Twenty-four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Boston Scientific presently has an average 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.