25,744 Shares in Boston Scientific Corporation (NYSE:BSX) Bought by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. acquired a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 25,744 shares of the medical equipment provider's stock, valued at approximately $2,597,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Boston Scientific by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock worth $11,869,805,000 after purchasing an additional 1,600,062 shares in the last quarter. Wellington Management Group LLP increased its holdings in Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after buying an additional 3,344,571 shares during the period. Geode Capital Management LLC increased its holdings in Boston Scientific by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock worth $2,729,371,000 after buying an additional 1,041,329 shares during the period. Capital World Investors boosted its position in Boston Scientific by 28.7% in the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after purchasing an additional 6,216,199 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Boston Scientific by 2.5% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock worth $1,992,994,000 after purchasing an additional 554,388 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

NYSE:BSX traded down $1.39 during midday trading on Tuesday, reaching $102.44. The stock had a trading volume of 7,750,318 shares, compared to its average volume of 7,684,844. Boston Scientific Corporation has a 1-year low of $71.88 and a 1-year high of $107.53. The firm's fifty day simple moving average is $103.45 and its 200-day simple moving average is $100.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. The stock has a market capitalization of $151.55 billion, a P/E ratio of 74.77, a PEG ratio of 2.71 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period last year, the business posted $0.56 EPS. Boston Scientific's revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the transaction, the executive vice president directly owned 22,235 shares of the company's stock, valued at $2,269,304.10. This trade represents a 43.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the completion of the sale, the chief executive officer owned 1,476,882 shares of the company's stock, valued at $153,137,894.58. The trade was a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 461,970 shares of company stock worth $47,755,193 in the last ninety days. Company insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BSX. BTIG Research reiterated a "buy" rating and set a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, April 23rd. Robert W. Baird increased their target price on Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Truist Financial increased their target price on Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Evercore ISI increased their target price on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Twenty-two research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $116.09.

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.