Ritholtz Wealth Management Purchases 1,208 Shares of Boston Scientific Co. (NYSE:BSX)

Ritholtz Wealth Management boosted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,855 shares of the medical equipment provider’s stock after buying 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 SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bruce G. Allen Investments LLC bought a new stake in shares of Boston Scientific during the 4th quarter worth $28,000. Sunbelt Securities Inc. purchased a new position in Boston Scientific during the 1st quarter valued at about $32,000. Motco increased its position in shares of Boston Scientific by 136.3% during the third quarter. Motco now owns 645 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 372 shares during the period. Coppell Advisory Solutions LLC bought a new position in shares of Boston Scientific in the second quarter valued at approximately $34,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Boston Scientific during the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Boston Scientific from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, December 4th. Citigroup upped their price objective on Boston Scientific from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. BTIG Research reaffirmed a “buy” rating and set a $64.00 price objective on shares of Boston Scientific in a report on Friday, December 29th. Raymond James lifted their price target on Boston Scientific from $67.00 to $73.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 1st. Finally, Truist Financial upped their price target on shares of Boston Scientific from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.62.

Insider Buying and Selling

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 15,000 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $58.40, for a total transaction of $876,000.00. Following the transaction, the executive vice president now owns 56,588 shares of the company’s stock, valued at approximately $3,304,739.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Friday, March 1st. The shares were 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 owns 53,788 shares in the company, valued at $3,568,833.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey B. Mirviss sold 15,000 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $58.40, for a total transaction of $876,000.00. Following the completion of the transaction, the executive vice president now owns 56,588 shares in the company, valued at $3,304,739.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,460 shares of company stock worth $4,759,945. 0.50% of the stock is owned by insiders.

Boston Scientific Price Performance

BSX stock opened at $68.50 on Friday. The business’s 50-day moving average is $65.40 and its two-hundred day moving average is $58.12. The firm has a market capitalization of $100.69 billion, a P/E ratio of 64.02, a P/E/G ratio of 2.38 and a beta of 0.78. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $68.92. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82.

Boston Scientific (NYSE:BSX) last posted its 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 net margin of 11.19% and a return on equity of 15.99%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the firm posted $0.45 EPS. Analysts anticipate that Boston Scientific Co. will post 2.25 earnings per share for the current fiscal year.

Boston Scientific Company 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.