RBA Wealth Management LLC Has $6.02 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

RBA Wealth Management LLC lowered its holdings in Boston Scientific Co. (NYSE:BSX) by 1.5% in the 4th quarter, HoldingsChannel reports. The firm owned 67,403 shares of the medical equipment provider’s stock after selling 1,053 shares during the quarter. Boston Scientific comprises approximately 2.3% of RBA Wealth Management LLC’s holdings, making the stock its 10th largest holding. RBA Wealth Management LLC’s holdings in Boston Scientific were worth $6,020,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of BSX. CRA Financial Services LLC boosted its holdings in shares of Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after acquiring an additional 117 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after purchasing an additional 119 shares during the period. Grove Bank & Trust raised its holdings in Boston Scientific by 4.4% in the fourth quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock valued at $261,000 after acquiring an additional 122 shares in the last quarter. PFG Investments LLC raised its holdings in Boston Scientific by 1.6% during the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock worth $725,000 after purchasing an additional 125 shares in the last quarter. Finally, Stonegate Investment Group LLC grew its position in shares of Boston Scientific by 1.6% during the fourth quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock worth $699,000 after acquiring an additional 126 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Boston Scientific stock opened at $103.11 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific Co. has a 52 week low of $64.08 and a 52 week high of $104.25. The firm has a market cap of $151.97 billion, a P/E ratio of 85.22, a P/E/G ratio of 2.68 and a beta of 0.80. The business’s fifty day moving average is $93.47 and its two-hundred day moving average is $86.33.

Insider Activity

In other news, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the transaction, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,989 shares of company stock valued at $2,702,261 over the last 90 days. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BSX. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. Piper Sandler upped their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley raised their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. BTIG Research raised their target price on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Sanford C. Bernstein raised 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. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific has an average rating of “Buy” and an average price target of $100.39.

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.