Bank of New York Mellon Corp Sells 1,680,922 Shares of Boston Scientific Corporation $BSX

Bank of New York Mellon Corp decreased its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 15.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,543,875 shares of the medical equipment provider’s stock after selling 1,680,922 shares during the period. Bank of New York Mellon Corp’s holdings in Boston Scientific were worth $598,878,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake 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 last quarter. State Street Corp raised its position in shares of Boston Scientific by 1.4% in 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 purchasing an additional 920,495 shares during the last quarter. Capital World Investors boosted its stake in Boston Scientific by 1.9% in 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 purchasing an additional 502,627 shares in the last quarter. Norges Bank purchased a new stake in Boston Scientific during the 4th quarter valued at about $2,199,395,000. Finally, Morgan Stanley increased its stake in 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 purchasing an additional 2,246,308 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Price Performance

NYSE BSX opened at $44.58 on Friday. The business’s fifty day moving average price is $48.38 and its 200-day moving average price is $66.02. The stock has a market capitalization of $66.26 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 0.82 and a beta of 0.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22. Boston Scientific Corporation has a 1-year low of $42.20 and a 1-year high of $109.50.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.19 billion. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. Boston Scientific has set its Q2 2026 guidance at 0.820-0.840 EPS and its FY 2026 guidance at 3.340-3.410 EPS. On average, equities analysts predict that Boston Scientific Corporation will post 3.36 earnings per share for the current year.

Boston Scientific declared that its board has authorized a stock buyback program 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 purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Boston Scientific news, Director Cheryl Pegus acquired 1,770 shares of the stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the purchase, the director directly owned 1,770 shares of the company’s stock, valued at approximately $99,987.30. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David C. Habiger acquired 2,250 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average cost of $55.92 per share, for a total transaction of $125,820.00. Following the acquisition, the director owned 13,878 shares of the company’s stock, valued at $776,057.76. The trade was a 19.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 9,800 shares of company stock valued at $554,012. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the topic of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $65.00 price target on shares of Boston Scientific in a report on Friday, June 12th. Wall Street Zen downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings cut Boston Scientific from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 7th. Needham & Company LLC dropped their price objective on Boston Scientific from $77.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Finally, Bank of America reduced their price objective on Boston Scientific from $105.00 to $68.00 and set a “buy” rating for the company in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $79.84.

About Boston Scientific

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.