Harvest Portfolios Group Inc. Cuts Stake in Boston Scientific Corporation $BSX

Key Points

• Harvest Portfolios Group Inc. has reduced its stake in Boston Scientific Corporation by 5.7%, selling 32,607 shares and currently holding a total of 543,368 shares valued at approximately $54.8 million.
• Multiple large investors, including Vanguard Group and Goldman Sachs, have also increased their positions in Boston Scientific, contributing to a robust 89.07% institutional ownership of the stock.
• The stock has received positive ratings from analysts, with a consensus target price of $117.50 and most analysts recommending a "Buy" or "Strong Buy."

Harvest Portfolios Group Inc. lessened its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 5.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 543,368 shares of the medical equipment provider's stock after selling 32,607 shares during the period. Boston Scientific makes up approximately 1.6% of Harvest Portfolios Group Inc.'s holdings, making the stock its 19th largest position. Harvest Portfolios Group Inc.'s holdings in Boston Scientific were worth $54,815,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after purchasing an additional 226 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Boston Scientific by 40.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after buying an additional 21,173 shares in the last quarter. Highview Capital Management LLC DE lifted its holdings in shares of Boston Scientific by 6.2% in the 4th quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock worth $2,189,000 after buying an additional 1,439 shares during the period. Integrated Wealth Concepts LLC increased its holdings in Boston Scientific by 2.7% during the fourth quarter. Integrated Wealth Concepts LLC now owns 16,140 shares of the medical equipment provider's stock valued at $1,442,000 after buying an additional 417 shares during the period. Finally, Kovitz Investment Group Partners LLC raised its holdings in Boston Scientific by 0.9% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 19,691 shares of the medical equipment provider's stock worth $1,759,000 after purchasing an additional 178 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

BSX has been the subject of a number of recent analyst reports. Raymond James Financial lifted their target price on shares of Boston Scientific from $121.00 to $124.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 24th. Needham & Company LLC reiterated a "buy" rating and set a $115.00 price target on shares of Boston Scientific in a research report on Wednesday, May 28th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Boston Scientific in a research note on Thursday, July 24th. Leerink Partnrs upgraded Boston Scientific to a "strong-buy" rating in a report on Monday, June 16th. Finally, Morgan Stanley boosted their target price on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $117.50.

Insider Buying and Selling at Boston Scientific

In other news, Director Edward J. Ludwig sold 4,000 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $106.03, for a total transaction of $424,120.00. Following the completion of the transaction, the director owned 18,479 shares of the company's stock, valued at $1,959,328.37. This represents a 17.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the transaction, the executive vice president directly owned 23,600 shares of the company's stock, valued at approximately $2,469,268. This represents a 42.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 345,029 shares of company stock valued at $35,976,603. 0.50% of the stock is currently owned by insiders.

Boston Scientific Price Performance

Boston Scientific stock traded down $0.19 during trading hours on Friday, hitting $105.56. The stock had a trading volume of 4,066,860 shares, compared to its average volume of 7,483,689. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 0.82. The stock has a market capitalization of $156.41 billion, a price-to-earnings ratio of 62.83, a PEG ratio of 2.55 and a beta of 0.66. The stock's fifty day moving average is $104.45 and its two-hundred day moving average is $102.17. Boston Scientific Corporation has a 1-year low of $79.53 and a 1-year high of $108.94.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The company's quarterly revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 earnings per share. Boston Scientific has set its Q3 2025 guidance at 0.700-0.720 EPS. As a group, analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

About Boston Scientific

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.