Deltec Asset Management LLC Acquires Shares of 6,500 Boston Scientific Corporation (NYSE:BSX)

Deltec Asset Management LLC bought a new position in Boston Scientific Corporation (NYSE:BSX - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 6,500 shares of the medical equipment provider's stock, valued at approximately $656,000.

Other institutional investors have also added to or reduced their stakes in the company. World Equity Group Inc. purchased a new position in Boston Scientific in the 1st quarter worth approximately $343,000. GAM Holding AG increased its stake in shares of Boston Scientific by 32.1% in the first quarter. GAM Holding AG now owns 27,776 shares of the medical equipment provider's stock worth $2,802,000 after buying an additional 6,747 shares during the period. Appleton Partners Inc. MA bought a new stake in Boston Scientific during the 1st quarter valued at $204,000. Advisor Resource Council purchased a new stake in Boston Scientific during the 1st quarter valued at $283,000. Finally, RF&L Wealth Management LLC bought a new stake in Boston Scientific in the 1st quarter worth $202,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

Shares of NYSE BSX traded down $0.02 during midday trading on Friday, reaching $101.35. 11,349,521 shares of the stock traded hands, compared to its average volume of 6,583,316. Boston Scientific Corporation has a one year low of $71.88 and a one year high of $107.17. 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 company's 50 day moving average is $101.77 and its 200 day moving average is $99.11. The stock has a market capitalization of $149.95 billion, a PE ratio of 73.98, a P/E/G ratio of 2.62 and a beta of 0.68.

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

Insider Buying and Selling at Boston Scientific

In related news, CEO Michael F. Mahoney sold 164,443 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now owns 1,535,706 shares of the company's stock, valued at $157,379,150.88. The trade was a 9.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president now directly owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This trade represents a 11.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 411,970 shares of company stock valued at $42,406,693 in the last three months. Company insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Barclays lifted their price objective on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. BTIG Research reaffirmed a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, April 23rd. Leerink Partnrs raised Boston Scientific to a "strong-buy" rating in a research report on Monday, June 16th. Erste Group Bank raised shares of Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Finally, Truist Financial lifted their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Twenty-two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific has a consensus rating of "Buy" and a consensus target price of $116.09.

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.