Eastern Bank Increases Stake in Boston Scientific Corporation $BSX

Key Points

• Eastern Bank has increased its stake in Boston Scientific by 28.4%, owning 268,578 shares valued at approximately $28.8 million after purchasing an additional 59,385 shares.
• Several other institutions also increased their holdings in Boston Scientific, with hedge funds owning 89.07% of the company's stock.
• Analysts have conflicting views on the stock, with ratings varying from "hold" to "outperform" and a consensus target price of $120.71 according to MarketBeat.

Eastern Bank increased its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 28.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 268,578 shares of the medical equipment provider's stock after buying an additional 59,385 shares during the period. Eastern Bank's holdings in Boston Scientific were worth $28,848,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BSX. Brighton Jones LLC increased its stake in shares of Boston Scientific by 0.8% during the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock valued at $2,445,000 after buying an additional 226 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Boston Scientific by 9.1% during the first quarter. Farther Finance Advisors LLC now owns 12,062 shares of the medical equipment provider's stock valued at $1,221,000 after buying an additional 1,002 shares during the period. Wealthcare Advisory Partners LLC grew its stake in Boston Scientific by 25.8% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,675 shares of the medical equipment provider's stock valued at $371,000 after purchasing an additional 754 shares during the last quarter. GAMMA Investing LLC grew its stake in Boston Scientific by 17.2% in the first quarter. GAMMA Investing LLC now owns 25,554 shares of the medical equipment provider's stock valued at $2,578,000 after purchasing an additional 3,745 shares during the last quarter. Finally, Integrated Advisors Network LLC grew its stake in Boston Scientific by 4.5% in the first quarter. Integrated Advisors Network LLC now owns 6,836 shares of the medical equipment provider's stock valued at $690,000 after purchasing an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Transactions at Boston Scientific

In related news, Director Edward J. Ludwig sold 4,000 shares of Boston Scientific stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $106.03, for a total transaction of $424,120.00. Following the completion of the sale, the director owned 18,479 shares of the company's stock, valued at $1,959,328.37. The trade was a 17.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction dated 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 sale, the executive vice president directly owned 23,600 shares of the company's stock, valued at $2,469,268. This trade represents a 42.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 174,214 shares of company stock worth $17,972,457. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BSX has been the topic of several analyst reports. Jefferies Financial Group reiterated a "hold" rating on shares of Boston Scientific in a research note on Monday, July 21st. Erste Group Bank lowered Boston Scientific from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Wells Fargo & Company lifted their target price on Boston Scientific from $118.00 to $124.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $125.00 target price on shares of Boston Scientific in a research note on Monday, September 29th. Finally, Oppenheimer upgraded Boston Scientific from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $118.00 to $125.00 in a research note on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $120.71.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $95.41 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37. The company has a market cap of $141.38 billion, a PE ratio of 56.79, a P/E/G ratio of 2.34 and a beta of 0.61. The business has a 50-day simple moving average of $101.98 and a two-hundred day simple moving average of $101.87. Boston Scientific Corporation has a fifty-two week low of $80.64 and a fifty-two week high of $109.50.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping 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 business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter last year, the company earned $0.62 earnings per share. The company's quarterly revenue was up 22.8% on a year-over-year basis. Boston Scientific has set its Q3 2025 guidance at 0.700-0.720 EPS. As a group, equities analysts expect 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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