BSX Stock Picks Up Steam After $2B Buyback, $1.5B Investment By Company – But Here’s Why BofA Slashed Its Price Target

• The company entered into a $2 billion accelerated share repurchase agreement with JPMorgan Chase, part of a $5 billion share repurchase program.
• The $2B The repurchase is expected to add about $0.02 to adjusted earnings per share in full-year 2026.
• BofA cited a changing medtech valuation environment and broader market concerns for the price target cut.

Shares of Boston Scientific (BSX) climbed 5% on Monday as investors cheered a flurry of corporate updates, including a major strategic investment in privately held MiRus and a $2 billion accelerated share repurchase program.

Separately, Bank of America lowered its price target on Boston Scientific stock to $68 from $105 while maintaining a ‘Buy’ rating, according to The Fly. The firm cited a changing medtech valuation environment and broader market concerns, such as the potential for inflation to rise after the war and the “data centers over healthcare” sentiment.

BSX’s $1.5B Bet On MiRus

Boston Scientific said it will invest $1.5 billion to acquire a 34% stake in MiRus, a firm that develops biomaterials and implant technologies for cardiovascular and orthopedic diseases. The deal also gives Boston Scientific an exclusive option to acquire MiRus’ Siegel transcatheter aortic valve replacement (TAVR) business.

The valve is built using a proprietary alloy and is designed to restore blood flow in patients with severely narrowed aortic valves.

The investment in MiRus is expected to have little impact on Boston Scientific’s adjusted earnings per share in full-year 2026, it said.

The company also has the option to fully acquire MiRus’ TAVR business through additional cash payments of around $3 billion, contingent on MiRus achieving certain clinical and regulatory milestones.

BSX’s $2B Share Buyback To Be EPS Accretive

Separately, Boston Scientific entered into a $2 billion accelerated share repurchase agreement with JPMorgan Chase. It is part of the $5 billion share repurchase program.

Boston Scientific will initially receive about 30.4 million shares based on the stock’s closing price of $52.68 on May 15. Final settlement is expected by June 30, 2026, after which, Boston Scientific will still have $3 billion remaining under the program.

The repurchase is expected to add about $0.02 to adjusted earnings per share in full-year 2026.

Retail Expects BSX To Hit $60 Soon

Retail sentiment for BSX on Stocktwits remained in the ‘neutral’ territory over the past 24 hours.

One user said the stock should climb to $60 by the end of the month.

Another user said the stock may reclaim the $60 to $65 range ahead of the second-quarter earnings report.

https://stocktwits.com/St0ckt0k101/message/653675945

BSX shares have been under heavy selling pressure this year, declining nearly 43%.

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