Frank Rimerman Advisors LLC Purchases 20,091 Shares of Boston Scientific Co. (NYSE:BSX)

Frank Rimerman Advisors LLC boosted its holdings in Boston Scientific Co. (NYSE:BSX) by 29,986.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 20,158 shares of the medical equipment provider’s stock after buying an additional 20,091 shares during the period. Frank Rimerman Advisors LLC’s holdings in Boston Scientific were worth $1,552,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. ProShare Advisors LLC raised its stake in Boston Scientific by 8.2% during the 2nd quarter. ProShare Advisors LLC now owns 216,039 shares of the medical equipment provider’s stock valued at $16,637,000 after purchasing an additional 16,430 shares during the period. Legacy Financial Advisors Inc. lifted its holdings in shares of Boston Scientific by 6.4% in the second quarter. Legacy Financial Advisors Inc. now owns 4,107 shares of the medical equipment provider’s stock worth $316,000 after buying an additional 247 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Boston Scientific by 15.0% in the second quarter. Summit Trail Advisors LLC now owns 10,767 shares of the medical equipment provider’s stock worth $829,000 after buying an additional 1,403 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Boston Scientific by 71.6% during the second quarter. Thrivent Financial for Lutherans now owns 333,963 shares of the medical equipment provider’s stock worth $25,718,000 after acquiring an additional 139,392 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Boston Scientific by 3.0% during the second quarter. Sei Investments Co. now owns 4,710,266 shares of the medical equipment provider’s stock valued at $362,739,000 after acquiring an additional 137,397 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 20,949 shares of company stock worth $1,627,877 over the last three months. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Performance

Boston Scientific stock opened at $83.92 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The company has a market capitalization of $123.12 billion, a PE ratio of 70.52, a P/E/G ratio of 2.75 and a beta of 0.79. The company has a 50 day moving average price of $78.72 and a 200-day moving average price of $74.73. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $84.89.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. Boston Scientific’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. As a group, equities analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Barclays increased their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. TD Cowen increased their price target on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Argus boosted their price objective on Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Raymond James raised their price objective on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Needham & Company LLC boosted their target price on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.65.

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.