RBA Wealth Management LLC Trims Stake in Boston Scientific Co. (NYSE:BSX)

RBA Wealth Management LLC lowered its holdings in Boston Scientific Co. (NYSE:BSX) by 1.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,463 shares of the medical equipment provider’s stock after selling 1,220 shares during the quarter. Boston Scientific accounts for 1.9% of RBA Wealth Management LLC’s holdings, 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 SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BSX. Norges Bank purchased a new stake in Boston Scientific in the fourth quarter valued at $930,626,000. Putnam Investments LLC raised its holdings in shares of Boston Scientific by 110.5% in the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after buying an additional 6,859,280 shares during the period. Capital World Investors raised its holdings in shares of Boston Scientific by 236.1% in the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock valued at $544,560,000 after buying an additional 6,617,360 shares during the period. American Century Companies Inc. raised its holdings in shares of Boston Scientific by 391.6% in the 3rd quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock valued at $172,752,000 after buying an additional 2,606,253 shares during the period. Finally, Wellington Management Group LLP grew its stake in Boston Scientific by 5.9% during the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after purchasing an additional 2,336,348 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,620,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the sale, the executive vice president now directly owns 42,908 shares in the company, valued at $3,316,788.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was 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 owns 50,638 shares of the company’s stock, valued at $3,620,617. 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 ninety days. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. TD Cowen boosted their target price on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Evercore ISI boosted their target price on Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $82.00 target price on shares of Boston Scientific in a report on Tuesday, June 18th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Barclays increased their target price on Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 26th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.41.

Boston Scientific Stock Down 0.6 %

NYSE:BSX traded down $0.44 during mid-day trading on Thursday, reaching $76.11. The stock had a trading volume of 2,144,448 shares, compared to its average volume of 5,196,001. The company has a market capitalization 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. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $77.99. The stock’s 50 day simple moving average is $75.23 and its two-hundred day simple moving average is $68.02. 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 (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. Equities analysts anticipate that Boston Scientific Co. will post 2.32 EPS for the current 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.