56,729 Boston Scientific Corporation $BSX Shares Sold by Eastern Bank

Key Points

• Eastern Bank cut its Boston Scientific stake by 81.9% in the third quarter, selling 56,729 shares and retaining 12,500 shares valued at approximately $546,000. Institutional investors collectively own 89.07% of the company.
• Boston Scientific reported quarterly earnings of $0.86 per share, beating estimates of $0.83, while revenue rose 7.5% year over year to $5.44 billion. Shares opened at $42.19, with a market capitalization of about $61.14 billion.
• Analysts maintain a “Moderate Buy” consensus, with 23 Buy, five Hold and two Sell ratings and an average price target of $66.31. Company directors also purchased shares recently, contributing to 194,522 insider-purchased shares over the past quarter.

Eastern Bank reduced its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 81.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,500 shares of the medical equipment provider's stock after selling 56,729 shares during the period. Eastern Bank's holdings in Boston Scientific were worth $546,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of BSX. Kelleher Financial Advisors bought a new stake in Boston Scientific in the 2nd quarter valued at approximately $25,000. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Boston Scientific during the 1st quarter worth approximately $28,000. Rakuten Securities Inc. bought a new position in shares of Boston Scientific during the 2nd quarter worth approximately $30,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Boston Scientific in the first quarter valued at approximately $32,000. Finally, Cetera Trust Company N.A acquired a new stake in shares of Boston Scientific in the second quarter valued at approximately $32,000. Institutional investors own 89.07% of the company's stock.

Boston Scientific Stock Down 0.5%

Shares of BSX opened at $42.19 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. Boston Scientific Corporation has a 12 month low of $41.94 and a 12 month high of $105.65. The firm's 50 day moving average is $46.81 and its 200-day moving average is $51.11. The stock has a market capitalization of $61.14 billion, a PE ratio of 17.08, a P/E/G ratio of 1.02 and a beta of 0.58.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. The business had revenue of $5.44 billion during the quarter, compared to analysts' expectations of $5.38 billion. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. Boston Scientific's revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. 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. Equities research analysts forecast that Boston Scientific Corporation will post 3.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Evercore set a $65.00 price objective on shares of Boston Scientific in a research note on Monday, July 6th. Needham & Company LLC lowered their target price on Boston Scientific from $77.00 to $57.00 and set a "buy" rating on the stock in a research report on Wednesday, July 8th. Royal Bank Of Canada dropped their target price on Boston Scientific from $85.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, July 30th. Truist Financial reduced their price target on Boston Scientific from $62.00 to $57.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Finally, Leerink Partners set a $60.00 price target on Boston Scientific in a research note on Thursday, July 30th. Twenty-three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $66.31.

Insiders Place Their Bets

In related news, Director Edward Ludwig purchased 5,000 shares of the stock in a transaction dated Friday, July 31st. The stock was bought at an average cost of $45.48 per share, for a total transaction of $227,400.00. Following the completion of the acquisition, the director owned 30,359 shares of the company's stock, valued at approximately $1,380,727.32. This represents a 19.72% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Habiger purchased 2,100 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was purchased at an average price of $47.59 per share, with a total value of $99,939.00. Following the completion of the purchase, the director directly owned 17,160 shares in the company, valued at $816,644.40. The trade was a 13.94% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have purchased 194,522 shares of company stock valued at $9,385,210. 0.34% of the stock is currently owned by insiders.

Boston Scientific Profile

Boston Scientific Corporation is a global medical technology company that develops, manufactures and markets devices used to diagnose and treat a broad range of medical conditions. Its products are designed to support minimally invasive procedures across areas including cardiovascular care, endoscopy, urology, pelvic health and neuromodulation.

The company's portfolio includes devices for interventional cardiology and peripheral interventions, electrophysiology and cardiac rhythm management, gastrointestinal and pulmonary procedures, kidney stone and prostate treatments, urinary and pelvic health, and chronic pain management.

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