3,517 Shares in Boston Scientific Co. (NYSE:BSX) Purchased by McAdam LLC

McAdam LLC acquired a new position in Boston Scientific Co. (NYSE:BSX) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 3,517 shares of the medical equipment provider’s stock, valued at approximately $295,000.

Several other institutional investors and hedge funds have also made changes to their positions in BSX. Capital World Investors boosted its position in shares of Boston Scientific by 69.9% in the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after buying an additional 6,588,256 shares in the last quarter. Marshall Wace LLP raised its stake in Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after purchasing an additional 3,608,158 shares during the last quarter. Capital Research Global Investors acquired a new position in Boston Scientific in the 1st quarter valued at about $182,897,000. Vanguard Group Inc. raised its stake in Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after purchasing an additional 1,988,082 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Boston Scientific by 30.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after purchasing an additional 1,824,405 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 316,253 shares of company stock valued at $26,714,298 over the last three months. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Citigroup boosted their target price on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird boosted their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. TD Cowen boosted their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company boosted their target price on shares of Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Stock Performance

BSX stock opened at $85.11 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The firm has a market cap of $124.86 billion, a P/E ratio of 71.52, a P/E/G ratio of 2.87 and a beta of 0.80. Boston Scientific Co. has a 12-month low of $49.15 and a 12-month high of $88.79. The stock’s 50 day simple moving average is $83.19 and its 200 day simple moving average is $77.57.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, equities research analysts predict that Boston Scientific Co. will post 2.4 EPS for the current year.

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.