First Citizens Bank & Trust Co. Buys New Shares in Boston Scientific Corporation $BSX

Key Points

• First Citizens Bank acquired 29,043 Boston Scientific shares worth approximately $1.27 million in the third quarter. Other institutions also increased their holdings, with institutional investors owning 89.07% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $68.23, despite several recent target-price reductions.
• Boston Scientific reported quarterly earnings of $0.86 per share, beating estimates of $0.83, while revenue rose 7.5% year over year to $5.44 billion. CEO Michael Mahoney and another director also purchased shares recently, with insiders buying more than $9.3 million of stock over the past 90 days.

First Citizens Bank & Trust Co. bought a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 29,043 shares of the medical equipment provider's stock, valued at approximately $1,268,000.

Other large investors have also added to or reduced their stakes in the company. Focus Financial Network Inc. raised its position in shares of Boston Scientific by 16.1% during the 3rd quarter. Focus Financial Network Inc. now owns 43,182 shares of the medical equipment provider's stock valued at $2,066,000 after purchasing an additional 5,979 shares during the period. Q Fund Management Hong Kong Ltd bought a new position in Boston Scientific in the 3rd quarter worth $426,000. Salem Investment Counselors Inc. boosted its holdings in Boston Scientific by 9.7% in the 3rd quarter. Salem Investment Counselors Inc. now owns 207,191 shares of the medical equipment provider's stock worth $9,044,000 after buying an additional 18,381 shares during the period. Ulland Investment Advisors LLC boosted its holdings in Boston Scientific by 8.9% in the 3rd quarter. Ulland Investment Advisors LLC now owns 20,614 shares of the medical equipment provider's stock worth $900,000 after buying an additional 1,680 shares during the period. Finally, Signal Advisors Wealth LLC increased its stake in Boston Scientific by 18.9% in the 3rd quarter. Signal Advisors Wealth LLC now owns 5,782 shares of the medical equipment provider's stock worth $252,000 after buying an additional 920 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on BSX shares. Rothschild & Co Redburn decreased their price target on Boston Scientific from $106.00 to $78.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. Argus restated a "hold" rating on shares of Boston Scientific in a research report on Friday, July 31st. Wall Street Zen lowered Boston Scientific from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $54.00 price objective (down from $60.00) on shares of Boston Scientific in a research note on Saturday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $60.00 target price (down from $75.00) on shares of Boston Scientific in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.23.

Boston Scientific Price Performance

BSX stock opened at $44.17 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 1.24. The company's fifty day moving average price is $46.16 and its 200-day moving average price is $49.80. Boston Scientific Corporation has a one year low of $41.38 and a one year high of $105.65. The company has a market capitalization of $64.02 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.04 and a beta of 0.58.

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 for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $5.44 billion during the quarter, compared to analysts' expectations of $5.38 billion. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. Boston Scientific's quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company posted $0.75 earnings per share. 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, equities analysts anticipate that Boston Scientific Corporation will post 3.24 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, CEO Michael F. Mahoney bought 186,240 shares of Boston Scientific stock in a transaction dated Monday, August 3rd. The shares were purchased at an average cost of $48.33 per share, with a total value of $9,000,979.20. Following the completion of the acquisition, the chief executive officer owned 1,590,024 shares of the company's stock, valued at $76,845,859.92. This trade represents a 13.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David C. Habiger bought 2,100 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was purchased at an average price of $47.59 per share, for a total transaction of $99,939.00. Following the completion of the transaction, the director directly owned 17,160 shares of the company's stock, valued at $816,644.40. This represents a 13.94% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 194,522 shares of company stock valued at $9,385,210 in the last 90 days. Insiders own 0.34% of the company's stock.

About Boston Scientific

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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