Handelsbanken Fonder AB Sells 1,002,628 Shares of Boston Scientific Corporation $BSX

Handelsbanken Fonder AB cut its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 38.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,584,433 shares of the medical equipment provider’s stock after selling 1,002,628 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.11% of Boston Scientific worth $67,624,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BSX. Vanguard Group Inc. grew its position in Boston Scientific by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider’s stock valued at $13,319,060,000 after buying an additional 1,436,550 shares during the period. State Street Corp raised its position in Boston Scientific by 1.4% in the fourth quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider’s stock worth $6,278,422,000 after acquiring an additional 920,495 shares during the period. Capital World Investors boosted its stake in Boston Scientific by 1.9% in the fourth quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider’s stock valued at $2,588,953,000 after acquiring an additional 502,627 shares during the last quarter. Norges Bank bought a new position in shares of Boston Scientific during the 4th quarter valued at approximately $2,199,395,000. Finally, Morgan Stanley grew its position in shares of Boston Scientific by 10.8% during the 4th quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider’s stock valued at $2,189,289,000 after acquiring an additional 2,246,308 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BSX. Bank of America decreased their price target 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. Citigroup reduced their price objective on Boston Scientific from $70.00 to $61.00 and set a “buy” rating for the company in a report on Thursday, July 30th. The Goldman Sachs Group set a $71.00 target price on Boston Scientific in a research report on Thursday, May 28th. Argus restated a “hold” rating on shares of Boston Scientific in a research note on Friday, July 31st. Finally, Wells Fargo & Company dropped their price target on Boston Scientific from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Twenty-four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $71.62.

Insider Buying and Selling

In related news, Director Edward J. Ludwig purchased 5,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were purchased at an average cost of $45.48 per share, for a total transaction of $227,400.00. Following the completion of the transaction, the director directly owned 30,359 shares in the company, valued at approximately $1,380,727.32. This represents a 19.72% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael F. Mahoney purchased 186,240 shares of the stock in a transaction dated Monday, August 3rd. The stock was purchased at an average cost of $48.33 per share, for a total transaction 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 represents a 13.27% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 204,322 shares of company stock worth $9,939,221 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Boston Scientific Trading Up 2.3%

NYSE:BSX opened at $50.42 on Tuesday. Boston Scientific Corporation has a 1 year low of $42.20 and a 1 year high of $109.50. The stock’s fifty day moving average price is $45.80 and its two-hundred day moving average price is $60.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 0.74. The company has a market cap of $73.07 billion, a P/E ratio of 20.41, a P/E/G ratio of 1.08 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 for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.38 billion. Boston Scientific had a return on equity of 19.28% and a net margin of 17.50%.The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $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, analysts expect 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 permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical equipment provider to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are 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.