Banque Pictet & Cie SA Sells 694,882 Shares of Boston Scientific Corporation $BSX

Key Points

• Banque Pictet & Cie SA cut its Boston Scientific stake by 65% in the third quarter, selling 694,882 shares and retaining 373,583 shares worth approximately $16.3 million. Other institutional investors increased their positions, and institutions collectively own 89.07% of the company.
• Analysts maintain a generally positive view, with Boston Scientific receiving a “Moderate Buy” consensus rating and an average price target of $68.23, despite several recent target-price reductions.
• Company insiders bought roughly $9.4 million of stock last quarter, including a $9.0 million purchase by CEO Michael Mahoney. Boston Scientific’s latest quarterly results beat expectations, with $0.86 EPS and $5.44 billion in revenue.

Banque Pictet & Cie SA trimmed its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 65.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,583 shares of the medical equipment provider's stock after selling 694,882 shares during the quarter. Banque Pictet & Cie SA's holdings in Boston Scientific were worth $16,307,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of BSX. Cyndeo Wealth Partners LLC grew its position in Boston Scientific by 4.3% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 62,339 shares of the medical equipment provider's stock worth $2,721,000 after purchasing an additional 2,549 shares during the last quarter. Aspiriant LLC acquired a new position in Boston Scientific in the 3rd quarter valued at about $338,000. Goelzer Investment Management Inc. raised its stake in Boston Scientific by 287.8% during the 3rd quarter. Goelzer Investment Management Inc. now owns 49,215 shares of the medical equipment provider's stock valued at $2,148,000 after acquiring an additional 36,524 shares during the last quarter. Activest Wealth Management raised its stake in Boston Scientific by 202.6% during the 3rd quarter. Activest Wealth Management now owns 1,831 shares of the medical equipment provider's stock valued at $87,000 after acquiring an additional 1,226 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in Boston Scientific by 26.4% during the 3rd quarter. V Square Quantitative Management LLC now owns 14,164 shares of the medical equipment provider's stock worth $618,000 after acquiring an additional 2,956 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analysts Set New Price Targets

BSX has been the subject of a number of recent analyst reports. Royal Bank Of Canada reduced their price objective on shares of Boston Scientific from $85.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, July 30th. Citigroup dropped their target price on Boston Scientific from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Monday, October 5th. Wall Street Zen cut Boston Scientific from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Wells Fargo & Company reduced their price target on Boston Scientific from $50.00 to $48.00 and set an "equal weight" rating for the company in a report on Wednesday, September 23rd. Finally, Truist Financial decreased their price target on Boston Scientific from $57.00 to $51.00 and set a "buy" rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Boston Scientific currently has an average rating of "Moderate Buy" and an average price target of $68.23.

Insider Buying and Selling

In related news, CEO Michael F. Mahoney bought 186,240 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was bought at an average price of $48.33 per share, with a total value of $9,000,979.20. Following the transaction, the chief executive officer owned 1,590,024 shares of the company's stock, valued at approximately $76,845,859.92. This trade represents a 13.27% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David C. Habiger bought 2,100 shares of the firm'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 transaction, the director owned 17,160 shares in the company, valued at approximately $816,644.40. This represents a 13.94% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 194,522 shares of company stock valued at $9,385,210 in the last quarter. Company insiders own 0.34% of the company's stock.

Boston Scientific Stock Up 0.5%

Shares of NYSE BSX opened at $44.34 on Friday. Boston Scientific Corporation has a 52-week low of $41.38 and a 52-week high of $105.65. The firm has a fifty day moving average of $46.06 and a 200-day moving average of $49.76. The stock has a market capitalization of $64.26 billion, a PE ratio of 13.75, a P/E/G ratio of 1.07 and a beta of 0.58. The company has a quick ratio of 0.74, a current ratio of 1.24 and a debt-to-equity ratio of 0.43.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.38 billion. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The company's revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $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, analysts anticipate that Boston Scientific Corporation will post 3.24 EPS for the current year.

Boston Scientific Company 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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