B. Riley Wealth Advisors Inc. Purchases 5,564 Shares of Boston Scientific Co. (NYSE:BSX)

B. Riley Wealth Advisors Inc. boosted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 52.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,270 shares of the medical equipment provider’s stock after buying an additional 5,564 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Boston Scientific were worth $1,114,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BSX. Eagle Bay Advisors LLC lifted its position in Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. First Foundation Advisors purchased a new stake in Boston Scientific during the 1st quarter valued at $25,000. RiverPark Advisors LLC bought a new stake in Boston Scientific in the 1st quarter worth $30,000. Northwest Investment Counselors LLC purchased a new position in shares of Boston Scientific in the first quarter valued at about $31,000. Finally, Sachetta LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at about $32,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

BSX opened at $74.58 on Thursday. The firm has a fifty day moving average price of $76.43 and a 200 day moving average price of $70.71. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $79.43. The stock has a market cap of $109.42 billion, a P/E ratio of 62.07, a P/E/G ratio of 2.45 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 (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period last year, the firm earned $0.53 EPS. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Equities research analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on BSX. Deutsche Bank Aktiengesellschaft increased their price objective on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Citigroup upped their target price on Boston Scientific from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Argus upped their price target on Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Finally, Mizuho boosted their target price on shares of Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.76.

Insider Buying and Selling at Boston Scientific

In related news, EVP Eric Francis Yves Thepaut sold 12,931 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $74.14, for a total transaction of $958,704.34. Following the completion of the transaction, the executive vice president now owns 31,422 shares in the company, valued at approximately $2,329,627.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Eric Francis Yves Thepaut sold 12,931 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $74.14, for a total transaction of $958,704.34. Following the completion of the sale, the executive vice president now owns 31,422 shares of the company’s stock, valued at $2,329,627.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The disclosure for this sale can be found here. Insiders have sold a total of 44,854 shares of company stock valued at $3,366,983 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

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.