Assenagon Asset Management S.A. Sells 5,884,377 Shares of Boston Scientific Corporation $BSX

Assenagon Asset Management S.A. reduced its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 58.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,173,559 shares of the medical equipment provider’s stock after selling 5,884,377 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Boston Scientific were worth $178,127,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BSX. FWL Investment Management LLC bought a new stake in shares of Boston Scientific during the 2nd quarter valued at about $26,000. Swiss RE Ltd. bought a new position in Boston Scientific in the fourth quarter worth about $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in Boston Scientific in the fourth quarter worth about $26,000. Sfam LLC bought a new stake in Boston Scientific during the 4th quarter valued at approximately $29,000. Finally, Eagle Bay Advisors LLC bought a new stake in Boston Scientific during the 4th quarter valued at approximately $30,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on BSX. UBS Group reduced their target price on Boston Scientific from $74.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Barclays lowered their target price on Boston Scientific from $96.00 to $89.00 and set an “overweight” rating for the company in a research note on Thursday, May 28th. Wall Street Zen lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Wells Fargo & Company reduced their price target on Boston Scientific from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Finally, Jefferies Financial Group decreased their price objective on Boston Scientific from $100.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Twenty-four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.62.

Boston Scientific Price Performance

Shares of BSX opened at $49.19 on Friday. Boston Scientific Corporation has a fifty-two week low of $42.20 and a fifty-two week high of $109.50. The firm’s 50-day simple moving average is $45.73 and its two-hundred day simple moving average is $60.81. The stock has a market cap of $71.28 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 1.04 and a beta of 0.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.22 and a current ratio of 1.24.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.38 billion. During the same period last year, the business earned $0.75 earnings per share. The business’s revenue 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 anticipate that Boston Scientific Corporation will post 3.3 earnings per share for the current fiscal year.

Boston Scientific announced that its Board of Directors has approved a stock buyback plan on Monday, May 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical equipment provider to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Cheryl Pegus bought 1,770 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $56.49 per share, with a total value of $99,987.30. Following the completion of the purchase, the director owned 1,770 shares in the company, valued at approximately $99,987.30. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney purchased 186,240 shares of Boston Scientific stock in a transaction dated Monday, August 3rd. The shares were bought at an average price of $48.33 per share, with a total value of $9,000,979.20. Following the completion of the acquisition, the chief executive officer directly 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 202,222 shares of company stock worth $9,839,282 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

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.