Boston Scientific Co. (NYSE:BSX) Holdings Raised by West Branch Capital LLC

West Branch Capital LLC lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 12,583.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 761 shares of the medical equipment provider’s stock after purchasing an additional 755 shares during the quarter. West Branch Capital LLC’s holdings in Boston Scientific were worth $77,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Parnassus Investments LLC raised its stake in shares of Boston Scientific by 0.7% during the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after purchasing an additional 97 shares in the last quarter. Baldwin Investment Management LLC raised its position in Boston Scientific by 1.2% in the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock worth $781,000 after acquiring an additional 102 shares in the last quarter. Evergreen Capital Management LLC raised its position in Boston Scientific by 1.7% in the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after acquiring an additional 106 shares in the last quarter. PDS Planning Inc raised its position in Boston Scientific by 1.5% in the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after acquiring an additional 113 shares in the last quarter. Finally, Paladin Wealth LLC raised its position in Boston Scientific by 1.6% in the first quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider’s stock worth $722,000 after acquiring an additional 113 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,314 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the sale, the executive vice president now owns 22,235 shares of the company’s stock, valued at approximately $2,269,304.10. The trade was a 43.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now owns 36,193 shares of the company’s stock, valued at approximately $3,441,592.37. This trade represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 411,970 shares of company stock valued at $42,406,693. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Trading Up 1.1%

NYSE:BSX opened at $99.60 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The stock’s 50-day moving average is $101.03 and its two-hundred day moving average is $98.68. The stock has a market cap of $147.35 billion, a PE ratio of 79.68, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 EPS. As a group, equities research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BSX has been the topic of several research reports. Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. Truist Financial boosted their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. BTIG Research reiterated a “buy” rating and issued a $124.00 price target on shares of Boston Scientific in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Finally, Evercore ISI boosted their price objective on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Twenty-one research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $116.00.

Boston Scientific Company 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.