RBA Wealth Management LLC Sells 1,220 Shares of Boston Scientific Co. (NYSE:BSX)

RBA Wealth Management LLC decreased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 69,463 shares of the medical equipment provider’s stock after selling 1,220 shares during the period. Boston Scientific accounts for about 1.9% of RBA Wealth Management LLC’s portfolio, making the stock its 23rd largest holding. RBA Wealth Management LLC’s holdings in Boston Scientific were worth $4,758,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of BSX. Accel Wealth Management bought a new stake in Boston Scientific in the 1st quarter valued at about $218,000. First Trust Direct Indexing L.P. boosted its holdings in Boston Scientific by 9.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 38,506 shares of the medical equipment provider’s stock valued at $2,637,000 after purchasing an additional 3,482 shares during the period. DMC Group LLC boosted its holdings in Boston Scientific by 6.3% in the 1st quarter. DMC Group LLC now owns 5,227 shares of the medical equipment provider’s stock valued at $358,000 after purchasing an additional 312 shares during the period. Norden Group LLC bought a new stake in Boston Scientific in the 1st quarter valued at about $576,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Boston Scientific in the 1st quarter valued at about $60,000. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 9,818 shares of Boston Scientific stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the sale, the director now directly owns 41,374 shares in the company, valued at $3,032,300.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward J. Ludwig sold 9,818 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the sale, the director now directly owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The disclosure for this sale can be found here. Insiders sold a total of 72,259 shares of company stock worth $5,344,014 over the last three months. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 price target on shares of Boston Scientific in a report on Tuesday, June 18th. The Goldman Sachs Group assumed coverage on shares of Boston Scientific in a research report on Thursday, May 30th. They issued a “buy” rating and a $90.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Barclays upped their price target on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.41.

Boston Scientific Stock Down 0.6 %

Shares of BSX stock traded down $0.44 on Thursday, hitting $76.11. The stock had a trading volume of 2,144,448 shares, compared to its average volume of 5,196,001. The business has a 50 day moving average of $75.23 and a 200 day moving average of $68.02. The stock has a market cap of $111.66 billion, a price-to-earnings ratio of 63.96, a price-to-earnings-growth ratio of 2.63 and a beta of 0.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $77.99.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. As a group, analysts expect that Boston Scientific Co. will post 2.32 EPS for the current year.

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.