Boston Scientific Co. (NYSE:BSX) Shares Bought by Western Wealth Management LLC

Western Wealth Management LLC grew its stake in shares of Boston Scientific Co. (NYSE:BSX) by 6.6% in the fourth quarter, HoldingsChannel reports. The fund owned 16,928 shares of the medical equipment provider’s stock after buying an additional 1,043 shares during the quarter. Western Wealth Management LLC’s holdings in Boston Scientific were worth $979,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of BSX. Bruce G. Allen Investments LLC purchased a new stake in shares of Boston Scientific during the 4th quarter worth about $28,000. Sunbelt Securities Inc. purchased a new stake in shares of Boston Scientific during the 1st quarter worth about $32,000. Motco grew its holdings in shares of Boston Scientific by 136.3% during the 3rd quarter. Motco now owns 645 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 372 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Boston Scientific by 58.0% during the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 215 shares during the period. Finally, Coppell Advisory Solutions LLC purchased a new stake in shares of Boston Scientific during the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now directly owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the sale, the director now directly owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the sale, the chief financial officer now directly owns 271,542 shares in the company, valued at $17,883,756.12. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock valued at $3,418,529 over the last three months. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Mizuho upgraded Boston Scientific from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $80.00 in a report on Thursday, February 1st. Citigroup upped their price target on Boston Scientific from $71.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. BTIG Research restated a “buy” rating and issued a $64.00 price target on shares of Boston Scientific in a report on Friday, December 29th. Argus upped their price target on Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Evercore ISI upped their price target on Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.50.

Boston Scientific Stock Performance

BSX stock opened at $67.33 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The firm has a market cap of $98.78 billion, a P/E ratio of 62.93, a P/E/G ratio of 2.36 and a beta of 0.78. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $69.21. The stock’s 50 day simple moving average is $67.25 and its 200 day simple moving average is $59.90.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the company posted $0.45 EPS. As a group, equities research analysts predict that Boston Scientific Co. will post 2.25 EPS for the current 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.