Westfield Capital Management Co. LP Takes Position in Boston Scientific Co. (NYSE:BSX)

Westfield Capital Management Co. LP bought a new position in shares of Boston Scientific Co. (NYSE:BSX) in the 3rd quarter, Holdings Channel.com reports. The firm bought 4,255 shares of the medical equipment provider’s stock, valued at approximately $357,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BSX. CRA Financial Services LLC grew its holdings in Boston Scientific by 4.3% during the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after buying an additional 117 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Boston Scientific by 9.7% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock worth $115,000 after acquiring an additional 119 shares during the last quarter. Adero Partners LLC grew its stake in Boston Scientific by 3.6% during the third quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock valued at $303,000 after acquiring an additional 127 shares in the last quarter. Ashton Thomas Securities LLC increased its holdings in Boston Scientific by 1.3% in the 3rd quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after acquiring an additional 129 shares during the last quarter. Finally, CVA Family Office LLC lifted its stake in Boston Scientific by 7.4% in the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after purchasing an additional 131 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BSX shares. Barclays lifted their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a report on Monday, November 18th. Bank of America raised their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Truist Financial increased their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Citigroup boosted their target price on shares of Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This trade represents a 15.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 328,157 shares of company stock worth $27,894,270. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Boston Scientific stock opened at $89.25 on Tuesday. The stock has a market cap of $131.53 billion, a price-to-earnings ratio of 73.76, a price-to-earnings-growth ratio of 2.65 and a beta of 0.79. The firm has a 50-day moving average of $86.11 and a two-hundred day moving average of $80.32. Boston Scientific Co. has a 1 year low of $53.93 and a 1 year high of $91.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period last year, the business posted $0.50 EPS. Boston Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. On average, research analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Boston Scientific Profile

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.