RVW Wealth LLC Invests $501,000 in Boston Scientific Corporation (NYSE:BSX)

Key Points

• RVW Wealth LLC has acquired 4,969 shares of Boston Scientific Corporation, valued at approximately $501,000, in the first quarter.
• Boston Scientific reported earnings of $0.75 EPS, exceeding estimates of $0.72, with revenues of $5.06 billion for the quarter, marking a 22.8% increase year-over-year.
• Institutional investors now own 89.07% of Boston Scientific's stock, indicating strong confidence in the company's future prospects.

RVW Wealth LLC purchased a new position in Boston Scientific Corporation (NYSE:BSX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,969 shares of the medical equipment provider's stock, valued at approximately $501,000.

Several other institutional investors have also modified their holdings of the business. Davis R M Inc. acquired a new position in shares of Boston Scientific in the first quarter worth about $201,000. Private Advisory Group LLC acquired a new position in shares of Boston Scientific in the first quarter worth about $378,000. Natixis Advisors LLC lifted its stake in shares of Boston Scientific by 6.7% in the first quarter. Natixis Advisors LLC now owns 2,166,415 shares of the medical equipment provider's stock worth $218,548,000 after acquiring an additional 136,346 shares in the last quarter. NorthRock Partners LLC raised its stake in Boston Scientific by 1.3% during the first quarter. NorthRock Partners LLC now owns 16,480 shares of the medical equipment provider's stock valued at $1,662,000 after buying an additional 217 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its holdings in Boston Scientific by 19.7% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 10,316 shares of the medical equipment provider's stock worth $1,013,000 after buying an additional 1,696 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on BSX shares. Wall Street Zen raised Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Leerink Partnrs upgraded shares of Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Jefferies Financial Group reiterated a "hold" rating on shares of Boston Scientific in a research note on Monday, July 21st. BTIG Research reiterated a "buy" rating and set a $124.00 target price on shares of Boston Scientific in a research note on Wednesday, April 23rd. Finally, Robert W. Baird boosted their target price on shares of Boston Scientific from $117.00 to $123.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $117.50.

Boston Scientific Stock Performance

BSX traded up $0.48 during trading hours on Friday, hitting $105.40. The company's stock had a trading volume of 6,338,985 shares, compared to its average volume of 7,453,291. The company has a 50-day simple moving average of $103.63 and a 200 day simple moving average of $101.87. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $155.93 billion, a PE ratio of 62.74, a PEG ratio of 2.53 and a beta of 0.66. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $108.94.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.03. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a return on equity of 19.39% and a net margin of 13.55%. The firm's quarterly revenue was up 22.8% on a year-over-year basis. During the same period last year, the company posted $0.62 EPS. As a group, sell-side analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insider Activity

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the transaction, the executive vice president directly owned 18,705 shares of the company's stock, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $102.88, for a total value of $5,799,551.36. Following the transaction, the executive vice president directly owned 178,342 shares of the company's stock, valued at approximately $18,347,824.96. The trade was a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 282,288 shares of company stock worth $29,411,601 in the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific 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.