Boston Scientific (NYSE:BSX) Shares Gap Down – Here’s Why

Boston Scientific Corporation (NYSE:BSX) shares gapped down before the market opened on Wednesday . The stock had previously closed at $49.86, but opened at $47.00. Boston Scientific shares last traded at $47.7710, with a volume of 8,395,832 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BSX shares. Weiss Ratings lowered shares of Boston Scientific from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 7th. Jefferies Financial Group lowered their target price on shares of Boston Scientific from $100.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Wall Street Zen cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Stifel Nicolaus set a $60.00 price objective on Boston Scientific in a research note on Wednesday, July 29th. Finally, UBS Group reduced their target price on Boston Scientific from $74.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Twenty-four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.62.

Boston Scientific Stock Down 4.1%

The firm has a market cap of $69.31 billion, a PE ratio of 19.36, a P/E/G ratio of 1.07 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. The stock has a 50-day simple moving average of $46.44 and a two-hundred day simple moving average of $57.14.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $5.38 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Boston Scientific’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. Analysts expect 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 buyback plan on Monday, May 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, CEO Michael F. Mahoney acquired 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, with a total value of $9,000,979.20. Following the completion of the purchase, the chief executive officer 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David C. Habiger acquired 2,100 shares of the company’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 owned 17,160 shares in the company, valued at approximately $816,644.40. This trade represents a 13.94% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 194,522 shares of company stock valued at $9,385,210. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BSX. Renaissance Group LLC acquired a new position in Boston Scientific during the 4th quarter valued at about $28,064,000. Perigon Wealth Management LLC acquired a new stake in Boston Scientific in the second quarter worth about $883,000. Y Intercept Hong Kong Ltd grew its stake in shares of Boston Scientific by 148.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 1,120,331 shares of the medical equipment provider’s stock worth $47,816,000 after acquiring an additional 670,060 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Boston Scientific during the second quarter worth about $3,253,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in shares of Boston Scientific by 9.9% during 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 in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.