Ritholtz Wealth Management Has $1.79 Million Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Ritholtz Wealth Management raised its stake in shares of Boston Scientific Co. (NYSE:BSX) by 18.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,293 shares of the medical equipment provider’s stock after buying an additional 3,643 shares during the period. Ritholtz Wealth Management’s holdings in Boston Scientific were worth $1,794,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Triad Wealth Partners LLC bought a new stake in shares of Boston Scientific during the 2nd quarter worth $26,000. First Foundation Advisors bought a new stake in Boston Scientific during the first quarter valued at about $25,000. Eagle Bay Advisors LLC grew its position 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 last quarter. Lynx Investment Advisory bought a new position in shares of Boston Scientific in the second quarter worth about $30,000. Finally, RiverPark Advisors LLC acquired a new position in shares of Boston Scientific during the 1st quarter worth about $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays upped their price target on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Canaccord Genuity Group increased their price target on shares of Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, July 25th. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. Needham & Company LLC upped their price target on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Robert W. Baird boosted their price objective on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.24.

Boston Scientific Stock Up 1.4 %

NYSE:BSX opened at $81.79 on Monday. The stock’s fifty day moving average price is $76.94 and its two-hundred day moving average price is $73.03. The company has a market cap of $120.45 billion, a price-to-earnings ratio of 68.73, a P/E/G ratio of 2.71 and a beta of 0.78. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $82.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61.

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

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

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.