Sumitomo Mitsui Trust Group Inc. cut its stake in Boston Scientific Corporation (NYSE:BSX – Free Report) by 4.2% in the 3rd quarter, Holdings Channel reports. The firm owned 3,283,898 shares of the medical equipment provider’s stock after selling 143,977 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Boston Scientific were worth $143,342,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Perigon Wealth Management LLC bought a new stake in shares of Boston Scientific during the second quarter valued at approximately $883,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Boston Scientific by 148.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 1,120,331 shares of the medical equipment provider’s stock valued at $47,816,000 after purchasing an additional 670,060 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in shares of Boston Scientific in the 2nd quarter worth approximately $3,253,000. PensionDanmark Pensionsforsikringsaktieselskab boosted its position in shares of Boston Scientific by 9.9% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 320,038 shares of the medical equipment provider’s stock worth $13,659,000 after purchasing an additional 28,961 shares in the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of Boston Scientific in the 2nd quarter worth approximately $38,539,000. Institutional investors own 89.07% of the company’s stock.
Boston Scientific News Summary
Here are the key news stories impacting Boston Scientific this week:
- Positive Sentiment: Boston Scientific exceeded third-quarter earnings expectations, while management continues to support its long-term growth strategy. An eight-day cyber outage reduced quarterly sales by approximately $150 million, suggesting some of the impact may be temporary. Boston Scientific: 3 Key Takeaways for Long-Term Investors
- Positive Sentiment: Some analysts still see upside: Robert W. Baird raised its price target to $51, while UBS, BTIG Research and Sanford C. Bernstein retained buy or outperform-equivalent ratings, although each lowered its target. Analysts Revise Forecasts After Q3 Results
- Neutral Sentiment: Barclays and Wells Fargo both maintain equal-weight ratings with $45 price targets, indicating limited expected upside from current levels and a wait-and-see stance.
- Negative Sentiment: Boston Scientific cut its fiscal 2026 guidance below analyst expectations, and its fourth-quarter outlook points to weaker sales. Management expects full-year organic revenue growth of about 4%, while analysts see growth challenges extending into 2027. BSX Q3 Earnings Call Flags Growth Challenges
- Negative Sentiment: The cyber incident, weakness in electrophysiology and WATCHMAN heart-device products, and pricing pressure in China are raising concerns about near-term revenue growth and execution. Boston Scientific Faces Cyber Incident and Product Pressures
- Negative Sentiment: Several firms downgraded the stock, including TD Cowen, JPMorgan, Oppenheimer and Needham. TD Cowen cut its rating to hold and reduced its target from $56 to $46, while Zacks added BSX to its Strong Sell list. New Strong Sell Stocks for October 30th
- Negative Sentiment: Relative to Intuitive Surgical, Boston Scientific is viewed as having weaker earnings momentum and less attractive near-term growth, adding competitive pressure to the investment case. Intuitive Surgical vs. Boston Scientific
Analysts Set New Price Targets
BSX has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on Boston Scientific from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report on Thursday. Stifel Nicolaus cut their target price on Boston Scientific from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. Barclays reduced their price target on Boston Scientific from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday. Canaccord Genuity Group lowered their price target on Boston Scientific from $66.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Oppenheimer lowered Boston Scientific from an “outperform” rating to a “market perform” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.43.
Boston Scientific Stock Down 0.1%
Boston Scientific stock opened at $41.93 on Monday. Boston Scientific Corporation has a 12 month low of $39.57 and a 12 month high of $105.65. The stock has a fifty day simple moving average of $44.78 and a two-hundred day simple moving average of $56.88. 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 firm has a market cap of $60.77 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.22 and a beta of 0.58.
Boston Scientific (NYSE:BSX – Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 EPS for the quarter, hitting analysts’ consensus estimates of $0.73. Boston Scientific had a net margin of 16.62% and a return on equity of 18.73%. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. During the same period in the previous year, the business posted $0.75 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts predict that Boston Scientific Corporation will post 3.17 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, Director David Habiger bought 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were bought at an average cost of $47.59 per share, with a total value of $99,939.00. Following the acquisition, the director owned 17,160 shares in the company, valued at $816,644.40. This trade represents a 13.94% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.
Boston Scientific Company Profile
Boston Scientific Corporation is a medical technology company that develops, manufactures and markets devices used to diagnose and treat a broad range of complex medical conditions. Founded in 1979 and headquartered in Marlborough, Massachusetts, the company serves healthcare providers and patients worldwide.
Its products support minimally invasive procedures in areas including interventional cardiology, peripheral interventions, electrophysiology, endoscopy, urology and neuromodulation.
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