BlackRock Inc. acquired 129.7 million shares of Boston Scientific Corporation, according to a recent Form 13F filing. The investment is valued at approximately $5.53 billion. BlackRock now stands as the largest institutional holder with an 8.95% ownership stake in the medical device manufacturer.
Boston Scientific recently reported quarterly earnings of $0.86 per share, surpassing the consensus estimate of $0.83. Quarterly revenue reached $5.44 billion, representing a 7.5% increase year-over-year. The company's board of directors also approved a new $5 billion share repurchase program.