Western Financial Corp CA Has $820,000 Stock Holdings in Boston Scientific Corporation (NYSE:BSX)

Western Financial Corp CA cut its stake in Boston Scientific Corporation (NYSE:BSX) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,132 shares of the medical equipment provider’s stock after selling 159 shares during the quarter. Western Financial Corp CA’s holdings in Boston Scientific were worth $820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of BSX. Brighton Jones LLC increased its stake in shares of Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock worth $2,445,000 after acquiring an additional 226 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of Boston Scientific by 40.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider’s stock worth $6,529,000 after acquiring an additional 21,173 shares during the last quarter. Highview Capital Management LLC DE increased its stake in shares of Boston Scientific by 6.2% in the fourth quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider’s stock worth $2,189,000 after acquiring an additional 1,439 shares during the last quarter. Wealthspire Advisors LLC increased its stake in shares of Boston Scientific by 41.9% in the fourth quarter. Wealthspire Advisors LLC now owns 6,009 shares of the medical equipment provider’s stock worth $537,000 after acquiring an additional 1,773 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Boston Scientific by 17.4% in the fourth quarter. IFP Advisors Inc now owns 8,105 shares of the medical equipment provider’s stock worth $724,000 after acquiring an additional 1,200 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on BSX. Evercore ISI increased their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. BTIG Research reissued a “buy” rating and set a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, April 23rd. Citigroup reissued a “buy” rating and set a $125.00 target price (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Leerink Partners began coverage on shares of Boston Scientific in a research report on Monday, June 16th. They set an “outperform” rating and a $118.00 target price on the stock. Finally, Truist Financial increased their target price 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. Twenty-two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $116.09.

Boston Scientific Stock Up 0.2%

NYSE BSX opened at $104.31 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The firm has a 50-day simple moving average of $102.32 and a 200 day simple moving average of $99.33. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $107.17. The stock has a market cap of $154.32 billion, a PE ratio of 76.14, a PEG ratio of 2.69 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The business had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter last year, the company earned $0.56 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis. On average, research analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the completion of the transaction, the executive vice president now owns 178,342 shares in the company, valued at $18,347,824.96. This trade represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Bradley Sorenson sold 4,572 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the transaction, the executive vice president now owns 18,705 shares of the company’s stock, valued at approximately $1,955,420.70. This represents a 19.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 411,970 shares of company stock worth $42,406,693. Company insiders own 0.50% of the company’s stock.

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.