B. Riley Wealth Advisors Inc. Grows Holdings in Boston Scientific Co. (NYSE:BSX)

B. Riley Wealth Advisors Inc. increased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 36.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 15,553 shares of the medical equipment provider’s stock after purchasing an additional 4,136 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Boston Scientific were worth $1,303,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares during the period. HWG Holdings LP purchased a new position in Boston Scientific during the 2nd quarter valued at about $482,000. Sumitomo Mitsui Trust Group Inc. grew its position in Boston Scientific by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock valued at $289,675,000 after acquiring an additional 30,636 shares in the last quarter. Intech Investment Management LLC increased its stake in Boston Scientific by 153.5% during the third quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock worth $16,541,000 after purchasing an additional 119,525 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in shares of Boston Scientific during the third quarter worth about $567,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the subject of a number of research reports. Stifel Nicolaus lifted their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Truist Financial increased their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Royal Bank of Canada increased their price target on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.52.

Insider Activity at Boston Scientific

In other news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. The trade was a 16.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 328,157 shares of company stock worth $27,957,676 in the last quarter. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $90.46 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock has a market cap of $133.32 billion, a P/E ratio of 74.76, a P/E/G ratio of 2.67 and a beta of 0.80. The stock has a 50 day moving average of $88.11 and a two-hundred day moving average of $81.97. Boston Scientific Co. has a twelve month low of $54.95 and a twelve month high of $91.93.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. Boston Scientific’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. On average, research analysts forecast that Boston Scientific Co. will post 2.46 earnings per share 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.