Boston Scientific Corporation $BSX Shares Acquired by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. boosted its holdings in Boston Scientific Corporation (NYSE:BSX) by 24.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,486 shares of the medical equipment provider’s stock after purchasing an additional 11,007 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Boston Scientific were worth $5,515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Riverwater Partners LLC lifted its holdings in shares of Boston Scientific by 3.3% during the 2nd quarter. Riverwater Partners LLC now owns 3,104 shares of the medical equipment provider’s stock worth $333,000 after acquiring an additional 98 shares during the period. Gerber Kawasaki Wealth & Investment Management increased its position in Boston Scientific by 3.8% during the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 2,711 shares of the medical equipment provider’s stock worth $291,000 after purchasing an additional 99 shares during the last quarter. Crown Wealth Group LLC raised its stake in Boston Scientific by 4.7% during the third quarter. Crown Wealth Group LLC now owns 2,238 shares of the medical equipment provider’s stock worth $218,000 after purchasing an additional 100 shares during the period. Sound View Wealth Advisors Group LLC boosted its holdings in shares of Boston Scientific by 3.9% in the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 2,738 shares of the medical equipment provider’s stock valued at $294,000 after purchasing an additional 103 shares during the last quarter. Finally, Scotia Capital Inc. grew its stake in shares of Boston Scientific by 0.7% during the 2nd quarter. Scotia Capital Inc. now owns 15,093 shares of the medical equipment provider’s stock valued at $1,621,000 after buying an additional 104 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the sale, the executive vice president directly owned 23,600 shares in the company, valued at $2,396,580. The trade was a 42.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ellen M. Zane sold 12,891 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total value of $1,266,927.48. Following the completion of the transaction, the director directly owned 24,134 shares in the company, valued at approximately $2,371,889.52. The trade was a 34.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 191,105 shares of company stock worth $18,067,697 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX stock opened at $91.56 on Wednesday. The firm has a fifty day simple moving average of $94.89 and a 200-day simple moving average of $99.29. The company has a market capitalization of $135.73 billion, a PE ratio of 48.96, a price-to-earnings-growth ratio of 1.63 and a beta of 0.67. Boston Scientific Corporation has a twelve month low of $85.98 and a twelve month high of $109.50. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. BTIG Research reaffirmed a “buy” rating and issued a $132.00 target price on shares of Boston Scientific in a research report on Friday, November 21st. Canaccord Genuity Group cut their price objective on Boston Scientific from $132.00 to $131.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Morgan Stanley increased their target price on shares of Boston Scientific from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Oppenheimer reduced their price target on shares of Boston Scientific from $125.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 16th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Boston Scientific in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.26.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.