Boston Scientific Corporation

(New York Stock Exchange)
Back to all articles
Somewhat Bullish +35

Aristotle Atlantic Partners LLC Purchases 12,480 Shares of Boston ...

AI-generated analysis

πŸ“ˆ Aristotle Atlantic Partners LLC boosted its Boston Scientific position by 5.9% in Q1, adding 12,480 shares for a total holding of 223,520 shares valued at $14.026 million.

🏦 Several other institutions initiated new positions or increased stakes, including Bangor Savings Bank which grew its holdings by 94.7% to own 292 shares.

πŸ’° Boston Scientific's Board authorized a $5 billion stock repurchase program, permitting the purchase of up to 6.4% of outstanding shares via open market buys.

πŸ“Š Analyst consensus rating is 'Moderate Buy' with a collective price target of $79.84, though individual targets vary from $62 to $87.

πŸ‘” Insider buying activity was strong in May, with directors Ludwig and Habiger purchasing shares worth over $328,000 combined.

πŸ“‰ The stock trades at a PEG ratio of 0.85 and a market capitalization of $65.78 billion as of the latest reporting period.

πŸ₯ Boston Scientific focuses on less-invasive medical procedures for cardiovascular, digestive, urologic, pulmonary, and chronic pain conditions.

Bullish Signals
  • The company has secured a $5 billion authorization for stock buybacks, indicating management believes the shares are undervalued.
  • Insiders have been net buyers recently, with directors acquiring over $328,000 worth of stock in May alone.
  • Analysts maintain 'Buy' or 'Outperform' ratings from major firms like Leerink Partners and Truist Financial despite some target price reductions.
  • The stock possesses a low PEG ratio of 0.85, suggesting the company's growth rate is priced at a reasonable multiple relative to earnings.
Risk Factors
  • Some analysts have lowered their price targets recently, with Stifel Nicolaus cutting its target from $75 to $65 and Truist Financial reducing its objective from $64 to $62.
  • The stock is currently trading below its 50-day moving average of $47.21 and significantly below its 200-day moving average of $64.06.
Full Analysis
Aristotle Atlantic Partners LLC increased its stake in Boston Scientific Corporation (NYSE: BSX) by 5.9% during the first quarter, purchasing an additional 12,480 shares to hold a total position of 223,520 shares valued at $14.026 million. Other institutional investors also adjusted their positions, with FWL Investment Management LLC, Swiss RE Ltd., and Garton & Associates Financial Advisors LLC each establishing new stakes valued around $26,000, while Bangor Savings Bank significantly increased its holdings by 94.7%. Analyst sentiment remains mixed but generally positive regarding the medical device manufacturer's long-term prospects. Recent reports from major firms include Robert W. Baird setting a $70 target price and Leerink Partners lowering its target to $74 while maintaining an 'outperform' rating. Conversely, Stifel Nicolaus reduced its target to $65 with a 'buy' rating, and Truist Financial lowered its objective to $62, though it retained a 'buy' stance. The consensus price target stands at $79.84 based on data from MarketBeat.com. The company recently authorized a substantial stock repurchase plan of $5 billion, signaling management's confidence in the stock's valuation and commitment to returning capital to shareholders. This authorization allows for the purchase of up to 6.4% of outstanding shares through open market transactions. Additionally, insider activity has been bullish, with directors Edward J. Ludwig and David C. Habiger acquiring significant shares totaling over $328,000 in May, bringing total insider ownership to 0.34%.