Adams Diversified Equity Fund Inc. Purchases New Shares in Boston Scientific Co. (NYSE:BSX)

Adams Diversified Equity Fund Inc. purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 213,700 shares of the medical equipment provider’s stock, valued at approximately $17,908,000.

A number of other large investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC grew its holdings in Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares in the last quarter. First Foundation Advisors acquired a new position in Boston Scientific during the 1st quarter worth $25,000. Triad Wealth Partners LLC acquired a new position in Boston Scientific during the 2nd quarter worth $26,000. Values First Advisors Inc. acquired a new position in Boston Scientific during the 3rd quarter worth $28,000. Finally, Andra AP fonden acquired a new position in Boston Scientific during the 2nd quarter worth $29,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Boston Scientific

In other news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred 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 owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred 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 of the company’s stock, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. 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 in the last quarter. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BSX shares. Robert W. Baird raised their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Royal Bank of Canada raised their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Thursday, October 24th. Raymond James raised their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Stock Down 0.2 %

BSX stock opened at $84.56 on Wednesday. Boston Scientific Co. has a 52 week low of $49.56 and a 52 week high of $88.79. The company has a market capitalization of $124.06 billion, a price-to-earnings ratio of 71.06, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. The firm’s 50-day moving average is $83.71 and its two-hundred day moving average is $78.09. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. On average, analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal 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.