Ritholtz Wealth Management Has $1.26 Million Position in Boston Scientific Co. (NYSE:BSX)

Ritholtz Wealth Management boosted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 5.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 21,855 shares of the medical equipment provider’s stock after acquiring an additional 1,208 shares during the period. Ritholtz Wealth Management’s holdings in Boston Scientific were worth $1,263,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WASHINGTON TRUST Co raised its position in Boston Scientific by 320.9% in the 4th quarter. WASHINGTON TRUST Co now owns 8,418 shares of the medical equipment provider’s stock valued at $487,000 after buying an additional 6,418 shares during the last quarter. Alecta Tjanstepension Omsesidigt grew its position in shares of Boston Scientific by 208.3% in the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 1,850,000 shares of the medical equipment provider’s stock valued at $106,948,000 after purchasing an additional 1,250,000 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Boston Scientific by 79.6% in the fourth quarter. Pacer Advisors Inc. now owns 178,639 shares of the medical equipment provider’s stock valued at $10,327,000 after acquiring an additional 79,168 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Boston Scientific by 3.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 507,550 shares of the medical equipment provider’s stock worth $29,341,000 after purchasing an additional 14,723 shares during the period. Finally, CVA Family Office LLC bought a new position in shares of Boston Scientific in the fourth quarter worth $102,000. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Mizuho upgraded Boston Scientific from a “neutral” rating to a “buy” rating and lifted their price target for the company from $65.00 to $80.00 in a research note on Thursday, February 1st. Royal Bank of Canada upped their price objective on Boston Scientific from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Citigroup lifted their target price on Boston Scientific from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 16th. Two equities research analysts have rated the stock with a hold rating, seventeen have given 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 an average target price of $66.62.

Boston Scientific Stock Performance

Boston Scientific stock opened at $68.50 on Friday. The firm’s 50 day simple moving average is $65.40 and its 200 day simple moving average is $58.12. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $68.92. The firm has a market capitalization of $100.69 billion, a PE ratio of 64.02, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the prior year, the company posted $0.45 EPS. As a group, analysts expect that Boston Scientific Co. will post 2.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the sale, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the transaction, the chief financial officer now owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $66.35, for a total value of $463,322.05. Following the completion of the sale, the executive vice president now directly owns 53,788 shares in the company, valued at $3,568,833.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,460 shares of company stock valued at $4,759,945. 0.50% of the stock is currently owned by company 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.