RIA Advisory Group LLC Invests $265,000 in Boston Scientific Co. (NYSE:BSX)

RIA Advisory Group LLC bought a new stake in Boston Scientific Co. (NYSE:BSX) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,160 shares of the medical equipment provider’s stock, valued at approximately $265,000.

Several other institutional investors also recently bought and sold shares of BSX. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific during the second quarter worth approximately $26,000. Values First Advisors Inc. purchased a new position in Boston Scientific during the 3rd quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Boston Scientific in the 3rd quarter valued at about $30,000. Capital Performance Advisors LLP acquired a new position in shares of Boston Scientific during the third quarter worth about $30,000. Finally, First Foundation Advisors purchased a new position in Boston Scientific in the first quarter worth $25,000. 89.07% of the stock is owned by institutional investors and hedge funds.

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 that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the transaction, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This represents a 16.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. This represents a 45.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock worth $26,196,718 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a report on Thursday, October 31st. Truist Financial upped their target price on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Raymond James boosted their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, Sanford C. Bernstein boosted their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Stock Down 0.7 %

Shares of BSX stock traded down $0.60 on Friday, hitting $86.99. The company’s stock had a trading volume of 10,230,145 shares, compared to its average volume of 6,083,564. Boston Scientific Co. has a fifty-two week low of $53.56 and a fifty-two week high of $89.30. The firm’s fifty day moving average price is $85.26 and its 200-day moving average price is $79.49. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The stock has a market capitalization of $128.21 billion, a price-to-earnings ratio of 71.88, a P/E/G ratio of 2.61 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period in the previous year, the company earned $0.50 EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. Research analysts anticipate that Boston Scientific Co. will post 2.46 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.