Western Financial Corp CA Takes $741,000 Position in Boston Scientific Co. (NYSE:BSX)

Western Financial Corp CA acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,291 shares of the medical equipment provider’s stock, valued at approximately $741,000.

Several other institutional investors have also added to or reduced their stakes in BSX. AustralianSuper Pty Ltd lifted its holdings in shares of Boston Scientific by 4,292.3% in the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after purchasing an additional 2,615,903 shares in the last quarter. State Street Corp lifted its stake in Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Boston Scientific by 98.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock worth $184,810,000 after acquiring an additional 1,091,561 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Boston Scientific by 68.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,371,407 shares of the medical equipment provider’s stock worth $198,724,000 after acquiring an additional 965,080 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Boston Scientific by 32.3% in the third quarter. Assenagon Asset Management S.A. now owns 3,897,117 shares of the medical equipment provider’s stock valued at $326,578,000 after purchasing an additional 951,580 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BSX has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Royal Bank of Canada increased their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Truist Financial lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Sanford C. Bernstein increased their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.35.

Insider Buying and Selling

In other news, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,989 shares of company stock valued at $2,702,261. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Down 0.6 %

BSX stock opened at $102.40 on Friday. Boston Scientific Co. has a fifty-two week low of $62.63 and a fifty-two week high of $104.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The stock has a market capitalization of $150.92 billion, a price-to-earnings ratio of 84.63, a PEG ratio of 2.69 and a beta of 0.80. The business’s fifty day moving average price is $93.47 and its two-hundred day moving average price is $86.21.

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.