Westwind Capital Takes $13.80 Million Position in Boston Scientific Corporation $BSX

by · The Cerbat Gem

Westwind Capital acquired a new position in Boston Scientific Corporation (NYSE:BSX – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 141,343 shares of the medical equipment provider’s stock, valued at approximately $13,799,000. Boston Scientific comprises about 2.9% of Westwind Capital’s holdings, making the stock its 16th biggest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Boston Scientific by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 137,134,110 shares of the medical equipment provider’s stock valued at $14,729,575,000 after acquiring an additional 2,545,381 shares during the period. State Street Corp lifted its position in Boston Scientific by 1.1% during the second quarter. State Street Corp now owns 65,191,864 shares of the medical equipment provider’s stock valued at $7,002,258,000 after purchasing an additional 713,379 shares in the last quarter. Geode Capital Management LLC grew its holdings in Boston Scientific by 2.0% during the second quarter. Geode Capital Management LLC now owns 32,424,982 shares of the medical equipment provider’s stock valued at $3,466,320,000 after purchasing an additional 622,602 shares during the period. Norges Bank purchased a new stake in Boston Scientific in the second quarter worth about $2,089,937,000. Finally, Invesco Ltd. raised its stake in shares of Boston Scientific by 1.4% in the second quarter. Invesco Ltd. now owns 16,851,518 shares of the medical equipment provider’s stock worth $1,810,022,000 after buying an additional 226,578 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Up 0.9%

Shares of BSX stock opened at $96.46 on Tuesday. The company’s fifty day simple moving average is $98.67 and its two-hundred day simple moving average is $101.21. Boston Scientific Corporation has a 52 week low of $85.98 and a 52 week high of $109.50. The stock has a market cap of $142.99 billion, a P/E ratio of 51.58, a PEG ratio of 1.93 and a beta of 0.67. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX – Get Free Report) last issued its earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.04. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.97 billion. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The business’s revenue was up 20.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 earnings per share. Boston Scientific has set its FY 2025 guidance at 3.020-3.040 EPS and its Q4 2025 guidance at 0.770-0.790 EPS. Analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the completion of the transaction, the executive vice president directly owned 23,600 shares in the company, valued at approximately $2,396,580. This represents a 42.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares in the company, valued at $17,739,678.74. This represents a 21.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 143,095 shares of company stock valued at $14,228,950 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on Boston Scientific from $124.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Wall Street Zen downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday. Truist Financial reduced their price objective on shares of Boston Scientific from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. Royal Bank Of Canada lifted their target price on shares of Boston Scientific from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Finally, Oppenheimer raised shares of Boston Scientific from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $118.00 to $125.00 in a report on Monday, September 8th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $124.85.

Read Our Latest Stock Analysis on Boston Scientific

About Boston Scientific

(Free Report)

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.

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