Banque Pictet & Cie SA Acquires 66,004 Shares of Boston Scientific Corporation $BSX

Key Points

• Banque Pictet & Cie SA increased its stake in Boston Scientific Corporation by 24.0%, acquiring an additional 66,004 shares, bringing its total holdings to 340,579 shares valued at approximately $36.58 million.
• Several institutional investors, including Vanguard Group and Goldman Sachs Group, also raised their investments in Boston Scientific, indicating strong confidence from major financial players in the company's future potential.
• Boston Scientific recently reported a 22.8% year-over-year revenue increase for its last quarter, surpassing analyst expectations with earnings of $0.75 per share compared to estimates of $0.72.

Banque Pictet & Cie SA grew its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 24.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 340,579 shares of the medical equipment provider's stock after purchasing an additional 66,004 shares during the quarter. Banque Pictet & Cie SA's holdings in Boston Scientific were worth $36,582,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BSX. Vanguard Group Inc. boosted its holdings in shares of Boston Scientific by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 134,588,729 shares of the medical equipment provider's stock valued at $13,577,311,000 after buying an additional 1,697,945 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Boston Scientific by 5.3% during the first quarter. Invesco Ltd. now owns 16,624,940 shares of the medical equipment provider's stock valued at $1,677,124,000 after purchasing an additional 834,274 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Boston Scientific by 10.8% in the first quarter. Goldman Sachs Group Inc. now owns 14,143,332 shares of the medical equipment provider's stock worth $1,426,779,000 after buying an additional 1,383,524 shares in the last quarter. Amundi raised its holdings in Boston Scientific by 2.6% in the 1st quarter. Amundi now owns 12,308,715 shares of the medical equipment provider's stock worth $1,212,408,000 after acquiring an additional 311,034 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Boston Scientific by 4.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,299,942 shares of the medical equipment provider's stock valued at $1,139,938,000 after purchasing an additional 460,580 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Activity

In related news, Director Yoshiaki Fujimori sold 2,901 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total transaction of $310,377.99. Following the completion of the sale, the director owned 2,081 shares of the company's stock, valued at approximately $222,646.19. This represents a 58.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $104.63, for a total value of $1,811,459.19. Following the transaction, the executive vice president directly owned 23,600 shares in the company, valued at $2,469,268. This trade represents a 42.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 174,214 shares of company stock worth $18,397,457 in the last ninety days. Corporate insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Oppenheimer upgraded shares of Boston Scientific from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $118.00 to $125.00 in a report on Monday, September 8th. Wells Fargo & Company lifted their target price on shares of Boston Scientific from $118.00 to $124.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Needham & Company LLC restated a "buy" rating and issued a $121.00 price target on shares of Boston Scientific in a research note on Friday, September 19th. Truist Financial upped their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Boston Scientific in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $118.17.

Boston Scientific Price Performance

NYSE BSX opened at $98.03 on Friday. The company has a market cap of $145.26 billion, a PE ratio of 58.35, a P/E/G ratio of 2.36 and a beta of 0.65. The firm's 50 day moving average price is $103.90 and its 200-day moving average price is $102.06. Boston Scientific Corporation has a 52-week low of $80.64 and a 52-week high of $109.50. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%.The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the business posted $0.62 EPS. The business's revenue for the quarter was up 22.8% compared to the same quarter last year. Boston Scientific has set its Q3 2025 guidance at 0.700-0.720 EPS. Sell-side analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.

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