Ridgewood Investments LLC Invests $67,000 in Boston Scientific Co. (NYSE:BSX)

Ridgewood Investments LLC acquired a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 866 shares of the medical equipment provider’s stock, valued at approximately $67,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Boston Scientific during the 2nd quarter valued at approximately $37,000. Burney Co. acquired a new position in Boston Scientific during the 2nd quarter valued at approximately $454,000. Whittier Trust Co. boosted its position in Boston Scientific by 7.0% during the 2nd quarter. Whittier Trust Co. now owns 6,090 shares of the medical equipment provider’s stock valued at $469,000 after purchasing an additional 397 shares during the period. HB Wealth Management LLC boosted its position in Boston Scientific by 16.3% during the 2nd quarter. HB Wealth Management LLC now owns 23,018 shares of the medical equipment provider’s stock valued at $1,773,000 after purchasing an additional 3,219 shares during the period. Finally, Zimmermann Investment Management & Planning LLC acquired a new position in Boston Scientific during the 2nd quarter valued at approximately $202,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the transaction, the executive vice president now owns 45,628 shares in the company, valued at $3,437,157.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 20,949 shares of company stock worth $1,583,395. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Trading Up 1.4 %

Shares of Boston Scientific stock traded up $1.15 on Thursday, reaching $80.67. 5,476,710 shares of the company were exchanged, compared to its average volume of 6,095,126. The stock has a fifty day moving average price of $76.79 and a 200-day moving average price of $72.76. The firm has a market capitalization of $118.35 billion, a price-to-earnings ratio of 67.79, a price-to-earnings-growth 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 Co. has a fifty-two week low of $48.35 and a fifty-two week high of $80.96.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. Boston Scientific’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts expect that Boston Scientific Co. will post 2.4 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on BSX. The Goldman Sachs Group began coverage on Boston Scientific in a research report on Thursday, May 30th. They set a “buy” rating and a $90.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Raymond James boosted their price target on Boston Scientific from $85.00 to $91.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 price target on shares of Boston Scientific in a research report on Thursday, July 25th. Finally, Evercore ISI boosted their price target on Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.24.

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.