QRG Capital Management Inc. Buys 198,951 Shares of Boston Scientific Corporation $BSX

QRG Capital Management Inc. raised its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 121.5% in the second quarter, Holdings Channel reports. The institutional investor owned 362,716 shares of the medical equipment provider’s stock after buying an additional 198,951 shares during the quarter. QRG Capital Management Inc.’s holdings in Boston Scientific were worth $15,481,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Boston Scientific by 1.0% in 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 acquiring an additional 1,436,550 shares during the period. State Street Corp increased its holdings in Boston Scientific by 1.4% during the 4th 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 increased its holdings in Boston Scientific by 1.9% during the 4th quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider’s stock worth $2,588,953,000 after acquiring an additional 502,627 shares during the period. Norges Bank purchased a new stake in Boston Scientific in the 4th quarter worth approximately $2,199,395,000. Finally, Morgan Stanley lifted its stake in Boston Scientific by 10.8% in the 4th quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider’s stock worth $2,189,289,000 after purchasing an additional 2,246,308 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on BSX. Evercore set a $65.00 price target on shares of Boston Scientific in a research report on Monday, July 6th. Stifel Nicolaus set a $60.00 price objective on Boston Scientific in a research report on Wednesday, July 29th. Zacks Research lowered Boston Scientific from a “hold” rating to a “strong sell” rating in a research note on Friday, June 5th. Wells Fargo & Company reduced their target price on Boston Scientific from $55.00 to $50.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Finally, BTIG Research decreased their target price on Boston Scientific from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. Twenty-four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.62.

Boston Scientific Stock Up 0.4%

Shares of NYSE:BSX opened at $51.40 on Thursday. Boston Scientific Corporation has a 52-week low of $42.20 and a 52-week high of $109.50. The firm has a fifty day moving average of $45.94 and a 200 day moving average of $59.69. The firm has a market capitalization of $74.49 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.12 and a beta of 0.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 1.24.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.38 billion. During the same quarter last year, the business posted $0.75 earnings per share. The company’s revenue for the quarter 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 fiscal year.

Boston Scientific declared that its board has approved a stock buyback program on Monday, May 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical equipment provider to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Boston Scientific

In other news, Director Cheryl Pegus bought 1,770 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the transaction, the director directly owned 1,770 shares of the company’s stock, valued at $99,987.30. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward J. Ludwig bought 5,000 shares of the business’s stock in a transaction on Friday, July 31st. The stock was purchased at an average cost of $45.48 per share, with a total value of $227,400.00. Following the purchase, the director owned 30,359 shares of the company’s stock, valued at $1,380,727.32. This 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 purchased 204,322 shares of company stock valued at $9,939,221. 0.34% of the stock is currently owned by corporate insiders.

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.