Boston Scientific Co. (NYSE:BSX) Shares Bought by RBA Wealth Management LLC

RBA Wealth Management LLC increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 68,456 shares of the medical equipment provider’s stock after acquiring an additional 1,210 shares during the quarter. Boston Scientific makes up approximately 2.2% of RBA Wealth Management LLC’s holdings, making the stock its 14th biggest holding. RBA Wealth Management LLC’s holdings in Boston Scientific were worth $5,737,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Triad Wealth Partners LLC acquired a new stake in Boston Scientific during the second quarter worth about $26,000. First Foundation Advisors purchased a new stake in shares of Boston Scientific in the 1st quarter valued at approximately $25,000. Eagle Bay Advisors LLC lifted its position in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 309 shares in the last quarter. Andra AP fonden purchased a new stake in Boston Scientific in the 2nd quarter worth approximately $29,000. Finally, Lynx Investment Advisory bought a new position in shares of Boston Scientific during the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 316,253 shares of company stock valued at $26,714,298 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BSX shares. BTIG Research lifted their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Truist Financial upped their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Morgan Stanley increased their target price on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Robert W. Baird raised their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Canaccord Genuity Group raised their price objective on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $90.68.

Boston Scientific Price Performance

Boston Scientific stock traded down $0.14 during trading hours on Tuesday, reaching $87.91. 3,958,782 shares of the stock were exchanged, compared to its average volume of 5,945,856. The company has a market cap of $128.97 billion, a P/E ratio of 73.97, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a twelve month low of $49.15 and a twelve month high of $88.79. The stock has a 50 day moving average of $82.73 and a two-hundred day moving average of $77.37.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data 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. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. Equities analysts expect that Boston Scientific Co. will post 2.4 EPS 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.