Glenview Trust Co Purchases New Stake in Boston Scientific Corporation $BSX

Key Points

• Glenview Trust Co. acquired 254,089 Boston Scientific shares worth approximately $10.8 million, while institutional investors collectively own 89.07% of the company.
• Boston Scientific reported better-than-expected quarterly results, with adjusted EPS of $0.86 and revenue of $5.44 billion, but a cyberattack and reported cardiac-device recall could cause shipment delays, added costs and weaker near-term results.
• Insiders have purchased 194,522 shares worth about $9.4 million over the past 90 days. Analysts maintain a “Moderate Buy” consensus with an average price target of $71.62, while the company also authorized a $5 billion share-repurchase program.

Glenview Trust Co acquired a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 254,089 shares of the medical equipment provider's stock, valued at approximately $10,845,000.

Several other large investors have also recently bought and sold shares of BSX. CYBER HORNET ETFs LLC grew its stake in shares of Boston Scientific by 3.4% during the 3rd quarter. CYBER HORNET ETFs LLC now owns 4,004 shares of the medical equipment provider's stock worth $391,000 after purchasing an additional 132 shares during the period. Gerber Kawasaki Wealth & Investment Management lifted its stake in shares of Boston Scientific by 4.7% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 3,082 shares of the medical equipment provider's stock valued at $294,000 after purchasing an additional 139 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Boston Scientific by 0.3% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 47,366 shares of the medical equipment provider's stock valued at $4,516,000 after purchasing an additional 140 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Boston Scientific by 2.4% during the fourth quarter. Kingsview Wealth Management LLC now owns 6,066 shares of the medical equipment provider's stock worth $578,000 after buying an additional 142 shares in the last quarter. Finally, Uptick Partners LLC boosted its holdings in Boston Scientific by 5.6% during the fourth quarter. Uptick Partners LLC now owns 2,699 shares of the medical equipment provider's stock worth $257,000 after buying an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Key Stories Impacting Boston Scientific

Here are the key news stories impacting Boston Scientific this week:

• Positive Sentiment: Director Susan E. Morano reportedly purchased additional Boston Scientific shares, signaling confidence from an insider while the stock is near its recent lows. Top Boston Scientific Insider Makes Bold New Share Grab
• Neutral Sentiment: The company’s latest quarterly results had been stronger than expected, with adjusted EPS and revenue exceeding consensus estimates and revenue rising year over year. However, that earnings momentum may provide limited near-term support while the cyber incident remains unresolved.
• Negative Sentiment: Boston Scientific said the cyberattack disrupted information systems used to process customer orders and ship products worldwide. The company is working to restore access, but the timing of a full recovery remains unclear, raising the risk of shipment delays, lost sales, remediation costs and weaker near-term results. Boston Scientific hit by cyberattack, global operations affected
• Negative Sentiment: The cybersecurity disruption comes alongside reports of a cardiac-device recall, increasing investor concerns about operational reliability, regulatory exposure and pressure on Boston Scientific’s growth outlook. The company has not yet quantified the financial impact of either issue. Boston Scientific hit with cardiac device recall

Insider Activity at Boston Scientific

In related news, CEO Michael F. Mahoney purchased 186,240 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was bought 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 directly owned 1,590,024 shares in the company, valued at $76,845,859.92. The trade was a 13.27% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David C. Habiger acquired 2,100 shares of Boston Scientific stock in a transaction dated Wednesday, August 5th. The stock was bought 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 approximately $816,644.40. This represents a 13.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 194,522 shares of company stock valued at $9,385,210. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on BSX. Royal Bank Of Canada dropped their target price on shares of Boston Scientific from $85.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, July 30th. Needham & Company LLC decreased their price target on Boston Scientific from $77.00 to $57.00 and set a "buy" rating on the stock in a research note on Wednesday, July 8th. Robert W. Baird set a $56.00 price target on Boston Scientific in a report on Thursday, July 30th. Canaccord Genuity Group dropped their price objective on Boston Scientific from $70.00 to $66.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Finally, Mizuho reduced their price objective on Boston Scientific from $90.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, July 15th. Twenty-four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $71.62.

Boston Scientific Stock Performance

Shares of BSX opened at $46.64 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. The stock has a market cap of $67.59 billion, a P/E ratio of 18.88, a PEG ratio of 1.05 and a beta of 0.56. The company has a 50-day moving average of $46.53 and a two-hundred day moving average of $56.72. Boston Scientific Corporation has a 12-month low of $42.20 and a 12-month high of $109.50.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.83 by $0.03. Boston Scientific had a net margin of 17.50% and a return on equity of 19.28%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.38 billion. During the same period in the prior year, the business earned $0.75 earnings per share. The company's quarterly revenue was up 7.5% on a year-over-year basis. 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. As a group, research analysts predict that Boston Scientific Corporation will post 3.3 EPS for the current fiscal year.

Boston Scientific announced that its board has approved a share repurchase program on Monday, May 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical equipment provider to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Boston Scientific 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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