Westfield Capital Management Co. LP Acquires 745 Shares of Boston Scientific Corporation (NYSE:BSX)

Westfield Capital Management Co. LP lifted its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 17.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,025 shares of the medical equipment provider’s stock after purchasing an additional 745 shares during the period. Westfield Capital Management Co. LP’s holdings in Boston Scientific were worth $507,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. ING Groep NV increased its holdings in Boston Scientific by 12.1% in the 1st quarter. ING Groep NV now owns 210,992 shares of the medical equipment provider’s stock worth $21,285,000 after acquiring an additional 22,753 shares during the last quarter. Earned Wealth Advisors LLC bought a new stake in shares of Boston Scientific during the 1st quarter valued at about $231,000. Commonwealth Equity Services LLC boosted its position in shares of Boston Scientific by 11.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 253,364 shares of the medical equipment provider’s stock valued at $25,559,000 after acquiring an additional 25,449 shares during the last quarter. Raiffeisen Bank International AG lifted its position in Boston Scientific by 4.6% in the 1st quarter. Raiffeisen Bank International AG now owns 92,564 shares of the medical equipment provider’s stock worth $9,197,000 after buying an additional 4,068 shares during the last quarter. Finally, Fairfield Financial Advisors LTD boosted its stake in Boston Scientific by 332.7% in the first quarter. Fairfield Financial Advisors LTD now owns 2,596 shares of the medical equipment provider’s stock worth $262,000 after buying an additional 1,996 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Leerink Partnrs raised Boston Scientific to a “strong-buy” rating in a research note on Monday, June 16th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Boston Scientific in a research report on Thursday, July 24th. Citigroup reiterated a “buy” rating and issued a $125.00 price objective (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Wells Fargo & Company boosted their target price on Boston Scientific from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Truist Financial boosted their target price on Boston Scientific from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Two research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $117.50.

Insider Activity

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $104.63, for a total transaction of $5,231,500.00. Following the completion of the transaction, the executive vice president owned 178,342 shares in the company, valued at $18,659,923.46. This trade represents a 21.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Edward J. Ludwig sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $106.03, for a total value of $424,120.00. Following 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 disclosure for this sale can be found here. Insiders have sold a total of 345,029 shares of company stock valued at $35,976,603 in the last three months. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Down 1.9%

BSX stock opened at $104.71 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.88 and a current ratio of 1.37. The business’s 50-day moving average is $103.65 and its two-hundred day moving average is $102.00. The company has a market cap of $155.15 billion, a price-to-earnings ratio of 62.33, a P/E/G ratio of 2.57 and a beta of 0.66. Boston Scientific Corporation has a fifty-two week low of $73.02 and a fifty-two week high of $108.94.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. The business had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the business posted $0.62 earnings per share. The business’s quarterly revenue was up 22.8% on a year-over-year basis. As a group, analysts forecast that Boston Scientific Corporation will post 2.85 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.