Westmount Partners LLC Buys New Shares in Boston Scientific Corporation (NYSE:BSX)

Westmount Partners LLC acquired a new stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,606 shares of the medical equipment provider's stock, valued at approximately $263,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Colonial Trust Co SC raised its stake in shares of Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 260 shares during the period. Investment Management Corp VA ADV purchased a new stake in Boston Scientific during the 4th quarter worth $25,000. Sunbeam Capital Management LLC acquired a new position in Boston Scientific during the 4th quarter worth $26,000. Ameriflex Group Inc. acquired a new position in Boston Scientific during the 4th quarter worth $31,000. Finally, Fourth Dimension Wealth LLC acquired a new position in Boston Scientific during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Price Performance

Shares of NYSE BSX traded down $0.53 during midday trading on Tuesday, reaching $103.80. The company's stock had a trading volume of 1,100,658 shares, compared to its average volume of 7,620,488. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average price of $103.43 and a 200 day moving average price of $100.76. Boston Scientific Corporation has a one year low of $71.88 and a one year high of $107.53. The company has a market cap of $153.56 billion, a price-to-earnings ratio of 75.76, a price-to-earnings-growth ratio of 2.68 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the firm earned $0.56 EPS. The business's revenue for the quarter was up 20.9% on a year-over-year basis. On average, equities research analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insiders Place Their Bets

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 shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the transaction, the executive vice president directly owned 22,235 shares of the company's stock, valued at approximately $2,269,304.10. The trade was a 43.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president directly owned 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 461,970 shares of company stock valued at $47,755,193 over the last 90 days. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on BSX shares. Royal Bank Of Canada raised their price objective on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Morgan Stanley lifted their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Truist Financial lifted their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Robert W. Baird lifted their price target on shares of Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Evercore ISI lifted their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Twenty-two analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has an average rating of "Buy" and an average price target of $116.09.

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.