866 Shares in Boston Scientific Co. (NYSE:BSX) Bought by Ridgewood Investments LLC

Ridgewood Investments LLC purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the second quarter, Holdings Channel reports. The fund purchased 866 shares of the medical equipment provider’s stock, valued at approximately $67,000.

A number of other institutional investors have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Boston Scientific during the second quarter valued at $37,000. Burney Co. bought a new stake in Boston Scientific during the second quarter valued at $454,000. Whittier Trust Co. boosted its position in Boston Scientific by 7.0% during the second quarter. Whittier Trust Co. now owns 6,090 shares of the medical equipment provider’s stock valued at $469,000 after acquiring an additional 397 shares during the last quarter. HB Wealth Management LLC boosted its position in Boston Scientific by 16.3% during the second quarter. HB Wealth Management LLC now owns 23,018 shares of the medical equipment provider’s stock valued at $1,773,000 after acquiring an additional 3,219 shares during the last quarter. Finally, Zimmermann Investment Management & Planning LLC bought a new stake in Boston Scientific during the second quarter valued at $202,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BSX. The Goldman Sachs Group began coverage on shares of Boston Scientific in a research report on Thursday, May 30th. They set a “buy” rating and a $90.00 price target on the stock. Robert W. Baird raised their target price on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. BTIG Research upped their price target on Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 price target on shares of Boston Scientific in a report on Thursday, July 25th. Finally, Canaccord Genuity Group boosted their price objective on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.24.

Boston Scientific Stock Up 1.4 %

Boston Scientific stock traded up $1.15 during trading on Thursday, hitting $80.67. 5,476,710 shares of the company were exchanged, compared to its average volume of 6,095,126. The business’s 50 day moving average is $76.79 and its 200 day moving average is $72.76. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $80.96. The company has a market capitalization of $118.35 billion, a P/E ratio of 67.79, a PEG ratio of 2.49 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. Boston Scientific’s revenue was up 14.5% compared to the same quarter last year. Analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 42,908 shares in the company, valued at approximately $3,316,788.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 20,949 shares of company stock worth $1,583,395 in the last quarter. 0.50% of the stock is currently owned by company insiders.

About Boston Scientific

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.