Ritholtz Wealth Management Increases Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Ritholtz Wealth Management lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 22.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,596 shares of the medical equipment provider’s stock after purchasing an additional 5,303 shares during the quarter. Ritholtz Wealth Management’s holdings in Boston Scientific were worth $2,396,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Priebe Wealth Holdings LLC acquired a new position in shares of Boston Scientific during the third quarter worth about $260,000. First Affirmative Financial Network lifted its stake in shares of Boston Scientific by 15.0% in the third quarter. First Affirmative Financial Network now owns 5,054 shares of the medical equipment provider’s stock valued at $424,000 after purchasing an additional 660 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Boston Scientific by 10.5% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 43,327 shares of the medical equipment provider’s stock worth $3,630,000 after buying an additional 4,104 shares in the last quarter. Davies Financial Advisors Inc. acquired a new position in Boston Scientific during the third quarter worth about $724,000. Finally, Contravisory Investment Management Inc. increased its holdings in Boston Scientific by 4.5% in the third quarter. Contravisory Investment Management Inc. now owns 7,473 shares of the medical equipment provider’s stock valued at $626,000 after buying an additional 323 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Up 1.0 %

Shares of BSX opened at $87.10 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The firm has a market cap of $127.78 billion, a PE ratio of 73.19, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. The company’s fifty day moving average is $81.21 and its two-hundred day moving average is $76.50. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $87.28.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. Analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BSX shares. JPMorgan Chase & Co. lifted their price objective on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. BTIG Research lifted their price target on Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Robert W. Baird increased their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Needham & Company LLC lifted their target price on shares of Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.60.

Insiders Place Their Bets

In other news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares in the company, valued at $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 316,253 shares of company stock worth $26,714,298 in the last quarter. 0.50% of the stock is owned by corporate insiders.

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.