Allspring Global Investments Holdings LLC Cuts Stock Holdings in Boston Scientific Corporation $BSX

Allspring Global Investments Holdings LLC reduced its position in Boston Scientific Corporation (NYSE:BSX) by 49.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,093,483 shares of the medical equipment provider’s stock after selling 1,079,916 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Boston Scientific were worth $67,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. FWL Investment Management LLC acquired a new position in shares of Boston Scientific in the second quarter worth about $26,000. Swiss RE Ltd. purchased a new position in shares of Boston Scientific in the 4th quarter valued at about $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Boston Scientific in the 4th quarter valued at about $26,000. Bangor Savings Bank raised 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 worth $28,000 after purchasing an additional 142 shares during the period. Finally, Board of the Pension Protection Fund purchased a new position in Boston Scientific during the fourth quarter worth approximately $29,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

NYSE:BSX opened at $43.95 on Friday. The company’s 50-day moving average is $48.18 and its two-hundred day moving average is $65.87. Boston Scientific Corporation has a 1-year low of $42.20 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. The firm has a market capitalization of $65.33 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 0.86 and a beta of 0.58.

Boston Scientific (NYSE:BSX) last announced 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 business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.19 billion. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $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. Analysts forecast that Boston Scientific Corporation will post 3.35 EPS for the current year.

Boston Scientific declared that its Board of Directors has authorized a stock buyback program on Monday, May 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have commented on BSX. Royal Bank Of Canada dropped their price objective on Boston Scientific from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Stifel Nicolaus reduced their target price on Boston Scientific from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Daiwa Securities Group lowered Boston Scientific from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Oppenheimer set a $90.00 price target on shares of Boston Scientific in a research note on Thursday, April 23rd. Finally, Truist Financial reduced their price objective on shares of Boston Scientific from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.84.

Insiders Place Their Bets

In other Boston Scientific news, Director David C. Habiger bought 2,250 shares of Boston Scientific stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the completion of the transaction, the director directly owned 13,878 shares of the company’s stock, valued at $776,057.76. This trade represents a 19.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Cheryl Pegus purchased 1,770 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $56.49 per share, for a total transaction of $99,987.30. Following the purchase, the director owned 1,770 shares in the company, valued at approximately $99,987.30. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 9,800 shares of company stock valued at $554,012 over the last quarter. 0.34% of the stock is owned by insiders.

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.