McAdam LLC Buys New Position in Boston Scientific Co. (NYSE:BSX)

McAdam LLC bought a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the 3rd quarter, Holdings Channel.com reports. The firm bought 3,517 shares of the medical equipment provider’s stock, valued at approximately $295,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Commerzbank Aktiengesellschaft FI boosted its position in shares of Boston Scientific by 37.5% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 11,657 shares of the medical equipment provider’s stock valued at $977,000 after purchasing an additional 3,177 shares during the period. Plan Group Financial LLC acquired a new position in shares of Boston Scientific in the 3rd quarter valued at $355,000. Private Advisor Group LLC boosted its position in shares of Boston Scientific by 2.7% in the 3rd quarter. Private Advisor Group LLC now owns 36,003 shares of the medical equipment provider’s stock valued at $3,017,000 after purchasing an additional 944 shares during the period. Stanley Laman Group Ltd. acquired a new position in shares of Boston Scientific in the 3rd quarter valued at $210,000. Finally, Pictet North America Advisors SA boosted its position in shares of Boston Scientific by 1.4% in the 3rd quarter. Pictet North America Advisors SA now owns 76,290 shares of the medical equipment provider’s stock valued at $6,393,000 after purchasing an additional 1,032 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Performance

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

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

Analysts Set New Price Targets

BSX has been the subject of a number of recent analyst reports. Citigroup increased their price target on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Thursday. Morgan Stanley increased their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday. Mizuho increased their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Three 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 316,253 shares of company stock valued at $26,714,298. 0.50% of the stock is owned by corporate insiders.

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.