Avidity Partners Management LP Sells 54,500 Shares of Boston Scientific Corporation $BSX

Key Points

• Avidity Partners Management LP cut its Boston Scientific stake by 47.6%, selling 54,500 shares and retaining 60,000 shares valued at approximately $3.8 million. Institutional investors still own about 89.1% of BSX.
• Analyst sentiment remains broadly positive, with 24 Buy ratings and a consensus “Moderate Buy” rating, although the average price target is $71.62 after several analysts reduced their targets. Two company directors also purchased shares recently.
• Boston Scientific exceeded quarterly earnings and revenue expectations, reporting $0.86 in EPS and $5.44 billion in revenue, up 7.5% year over year. The company also authorized a $5 billion share-repurchase program, but faces headwinds in its electrophysiology and WATCHMAN businesses and near-term restructuring costs.

Avidity Partners Management LP reduced its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 47.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,000 shares of the medical equipment provider's stock after selling 54,500 shares during the quarter. Boston Scientific makes up approximately 0.7% of Avidity Partners Management LP's investment portfolio, making the stock its 18th biggest position. Avidity Partners Management LP's holdings in Boston Scientific were worth $3,765,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of BSX. FWL Investment Management LLC bought a new position in Boston Scientific in the 2nd quarter worth $26,000. Swiss RE Ltd. bought a new stake in Boston Scientific during the fourth quarter valued at about $26,000. Garton & Associates Financial Advisors LLC bought a new stake in Boston Scientific during the fourth quarter valued at about $26,000. Bangor Savings Bank lifted its position in shares of Boston Scientific by 94.7% in the fourth quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 142 shares in the last quarter. Finally, Sfam LLC bought a new position in shares of Boston Scientific in the fourth quarter worth about $29,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BSX shares. UBS Group reduced their price objective on shares of Boston Scientific from $74.00 to $67.00 and set a "buy" rating on the stock in a research report on Thursday. The Goldman Sachs Group set a $71.00 target price on shares of Boston Scientific in a research note on Thursday, May 28th. Bank of America reduced their price target on shares of Boston Scientific from $105.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, May 18th. Citigroup decreased their price target on shares of Boston Scientific from $70.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $60.00 price objective on shares of Boston Scientific in a report on Thursday. Twenty-four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $71.62.

Insiders Place Their Bets

In other Boston Scientific news, Director Edward J. Ludwig purchased 3,580 shares of Boston Scientific stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of $56.68 per share, with a total value of $202,914.40. Following the transaction, the director owned 25,359 shares of the company's stock, valued at $1,437,348.12. This represents a 16.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David C. Habiger bought 2,250 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $55.92 per share, with a total value 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 SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 9,800 shares of company stock valued at $554,012. 0.34% of the stock is owned by company insiders.

Boston Scientific Stock Up 1.6%

Shares of BSX stock opened at $46.75 on Friday. The stock's fifty day moving average price is $46.13 and its 200 day moving average price is $62.26. Boston Scientific Corporation has a 1-year low of $42.20 and a 1-year high of $109.50. The company has a market cap of $69.48 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 0.94 and a beta of 0.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.38 billion. Boston Scientific had a net margin of 17.50% and a return on equity of 19.36%. Boston Scientific's revenue was up 7.5% on a year-over-year basis. During the same period last year, the firm posted $0.75 EPS. 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. On average, research analysts expect that Boston Scientific Corporation will post 3.3 earnings per share for the current fiscal year.

Boston Scientific declared that its board has authorized a share repurchase program on Monday, May 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

More Boston Scientific News

Here are the key news stories impacting Boston Scientific this week:

• Positive Sentiment: Boston Scientific reported second-quarter adjusted earnings of $0.86 per share and revenue of $5.44 billion, exceeding consensus estimates of $0.83 and $5.38 billion, respectively. Revenue increased 7.5% year over year, while management highlighted approximately 7% organic sales growth and a 15% increase in adjusted EPS. Boston Scientific Q2 earnings call highlights
• Positive Sentiment: Management’s multiyear restructuring plan is intended to improve efficiency and generate roughly $500 million in savings, supporting longer-term margins despite restructuring costs of up to $800 million. Reported workforce reductions are expected to affect operations in Ireland and Costa Rica. Boston Scientific restructuring cuts
• Positive Sentiment: Penumbra reported second-quarter revenue of $390.0 million, up 14.9% year over year, with thrombectomy revenue rising 12.5% and embolization and access revenue increasing 20.0%. The results provide supportive operating momentum for Boston Scientific’s pending acquisition of Penumbra, although PEN will not issue full-year guidance during the transaction. Penumbra second-quarter financial results
• Neutral Sentiment: Analyst sentiment remains broadly constructive but more cautious: UBS reaffirmed a Buy rating with a $74 target, while TD Cowen and Truist maintained Buy ratings despite lowering targets to $56 and $57. Argus reiterated a Hold rating, and BTIG reduced its expectations.
• Negative Sentiment: Boston Scientific lowered its full-year outlook because of headwinds affecting its electrophysiology and WATCHMAN portfolios. Analysts also cited a reset in expectations for these businesses, limiting the near-term upside from the earnings beat. Boston Scientific lowered full-year guidance
• Negative Sentiment: A recall involving the Rapid Refill Continuous Injection System adds a product and execution risk, while the restructuring will create near-term charges before expected savings are realized. Boston Scientific earnings, recall and restructuring

Boston Scientific Company Profile

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.

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