Eastern Bank Sells 262,227 Shares of Boston Scientific Corporation $BSX

Key Points

• Eastern Bank cut its Boston Scientific stake by 79.1% in the second quarter, selling 262,227 shares and retaining 69,229 shares valued at approximately $2.96 million.
• Institutional investors remain heavily involved, owning 89.07% of Boston Scientific; major holders including Vanguard, State Street, Capital World Investors, and Morgan Stanley increased their positions.
• Boston Scientific surpassed quarterly earnings and revenue estimates, reporting $0.86 in EPS and $5.44 billion in revenue. The company also authorized a $5 billion share buyback, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $71.62.

Eastern Bank decreased its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 79.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,229 shares of the medical equipment provider's stock after selling 262,227 shares during the period. Eastern Bank's holdings in Boston Scientific were worth $2,955,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Boston Scientific by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider's stock valued at $13,319,060,000 after purchasing an additional 1,436,550 shares during the last quarter. State Street Corp boosted its stake in Boston Scientific by 1.4% during the fourth quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider's stock worth $6,278,422,000 after buying an additional 920,495 shares during the period. Capital World Investors increased its position in Boston Scientific by 1.9% during the fourth quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider's stock valued at $2,588,953,000 after acquiring an additional 502,627 shares during the last quarter. Norges Bank bought a new position in Boston Scientific during the fourth quarter valued at $2,199,395,000. Finally, Morgan Stanley raised its stake in shares of Boston Scientific by 10.8% in the fourth quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider's stock valued at $2,189,289,000 after acquiring an additional 2,246,308 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Price Performance

Boston Scientific stock opened at $49.14 on Wednesday. The stock has a market cap of $73.04 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 1.06 and a beta of 0.56. 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 Corporation has a 1 year low of $42.20 and a 1 year high of $109.50. The firm has a 50-day moving average of $45.78 and a two-hundred day moving average of $61.39.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.03. Boston Scientific had a net margin of 17.50% and a return on equity of 19.36%. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.38 billion. During the same period in the prior year, the firm earned $0.75 EPS. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. 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 forecast that Boston Scientific Corporation will post 3.3 earnings per share for the current year.

Boston Scientific declared that its Board of Directors has initiated a stock buyback program on Monday, May 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BSX shares. BTIG Research lowered their target price on shares of Boston Scientific from $65.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, July 29th. Robert W. Baird set a $56.00 price objective on shares of Boston Scientific in a research note on Thursday, July 30th. Oppenheimer dropped their target price on Boston Scientific from $90.00 to $85.00 and set an "outperform" rating for the company in a research report on Monday, July 27th. Daiwa Securities Group cut Boston Scientific from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 29th. Finally, Leerink Partners set a $60.00 price objective on Boston Scientific in a report on Thursday, July 30th. Twenty-four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $71.62.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig purchased 5,000 shares of the company's stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $45.48 per share, with a total value of $227,400.00. Following the transaction, the director owned 30,359 shares of the company's stock, valued at $1,380,727.32. This represents a 19.72% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cheryl Pegus purchased 1,770 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the purchase, the director owned 1,770 shares of the company's stock, valued at approximately $99,987.30. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 14,800 shares of company stock worth $781,412 in the last ninety days. 0.34% of the stock is owned by company insiders.

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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