Boston Scientific Corporation $BSX Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. decreased its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 68.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,212 shares of the medical equipment provider’s stock after selling 36,803 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Boston Scientific were worth $1,080,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. FWL Investment Management LLC acquired a new stake in shares of Boston Scientific in the second quarter valued at approximately $26,000. Swiss RE Ltd. acquired a new position in Boston Scientific during the fourth quarter worth $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in Boston Scientific in the 4th quarter valued at $26,000. Bangor Savings Bank grew its holdings in Boston Scientific by 94.7% in the 4th quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 142 shares in the last quarter. Finally, Board of the Pension Protection Fund acquired a new stake in shares of Boston Scientific in the 4th quarter worth $29,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on BSX. 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. Robert W. Baird set a $70.00 price objective on shares of Boston Scientific in a report on Thursday, May 28th. Oppenheimer set a $90.00 price objective on shares of Boston Scientific in a research report on Thursday, April 23rd. Barclays reduced their target price on shares of Boston Scientific from $96.00 to $89.00 and set an “overweight” rating on the stock in a research note on Thursday, May 28th. Finally, Jefferies Financial Group decreased their target price on shares of Boston Scientific from $100.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $81.32.

Insider Activity

In other news, Director Cheryl Pegus bought 1,770 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average cost of $56.49 per share, for a total transaction of $99,987.30. Following the acquisition, the director directly owned 1,770 shares of the company’s stock, valued at $99,987.30. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward J. Ludwig bought 3,580 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average cost of $56.68 per share, with a total value of $202,914.40. Following the completion of the transaction, the director owned 25,359 shares in the company, valued at $1,437,348.12. This represents a 16.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 9,800 shares of company stock valued at $554,012. 0.34% of the stock is currently owned by corporate insiders.

Boston Scientific Price Performance

Shares of BSX opened at $44.77 on Thursday. The firm has a 50-day simple moving average of $49.93 and a two-hundred day simple moving average of $68.22. The stock has a market cap of $66.54 billion, a PE ratio of 18.73, a P/E/G ratio of 0.87 and a beta of 0.58. Boston Scientific Corporation has a 1-year low of $42.25 and a 1-year high of $109.50. 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 (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company 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. As a group, analysts forecast that Boston Scientific Corporation will post 3.36 EPS for the current year.

Boston Scientific declared that its Board of Directors has initiated a share repurchase program on Monday, May 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical equipment provider to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.