Wedbush Securities Inc. Purchases Shares of 3,255 Boston Scientific Co. (NYSE:BSX)

Wedbush Securities Inc. purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the 2nd quarter, Holdings Channel reports. The firm purchased 3,255 shares of the medical equipment provider’s stock, valued at approximately $251,000.

Other large investors also recently made changes to their positions in the company. Eagle Bay Advisors LLC increased its stake in shares of Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares during the period. First Foundation Advisors acquired a new stake in shares of Boston Scientific in the first quarter valued at approximately $25,000. Triad Wealth Partners LLC bought a new position in shares of Boston Scientific in the second quarter valued at approximately $26,000. RiverPark Advisors LLC bought a new position in shares of Boston Scientific in the first quarter valued at approximately $30,000. Finally, Lynx Investment Advisory bought a new position in shares of Boston Scientific in the second quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. JPMorgan Chase & Co. raised their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Argus raised their target price on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. BTIG Research raised their target price on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Citigroup raised their target price on shares of Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Boston Scientific Stock Down 0.6 %

Shares of NYSE:BSX opened at $83.31 on Friday. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $84.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The company has a market cap of $122.68 billion, a PE ratio of 70.01, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79. The firm has a 50 day simple moving average of $78.08 and a 200 day simple moving average of $74.11.

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

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 20,949 shares of company stock worth $1,627,877 in the last quarter. 0.50% of the stock is currently 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.