Schear Investment Advisers LLC Buys 1,727 Shares of Boston Scientific Co. (NYSE:BSX)

Schear Investment Advisers LLC raised its stake in shares of Boston Scientific Co. (NYSE:BSX) by 9.6% in the third quarter, Holdings Channel reports. The fund owned 19,770 shares of the medical equipment provider’s stock after acquiring an additional 1,727 shares during the period. Schear Investment Advisers LLC’s holdings in Boston Scientific were worth $1,657,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Foundation Advisors acquired a new stake in shares of Boston Scientific in the first quarter valued at $25,000. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific in the second quarter valued at $26,000. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific in the third quarter valued at $28,000. Andra AP fonden acquired a new stake in Boston Scientific in the second quarter worth about $29,000. Finally, Lynx Investment Advisory acquired a new stake in Boston Scientific in the second quarter worth about $30,000. 89.07% of the stock is owned by institutional investors.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction 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 $3,061,135.60. This represents a 15.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock worth $26,196,718 in the last ninety days. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $86.99 on Friday. The stock’s 50-day simple moving average is $85.26 and its two-hundred day simple moving average is $79.54. Boston Scientific Co. has a twelve month low of $53.56 and a twelve month high of $89.30. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $128.21 billion, a P/E ratio of 71.89, a P/E/G ratio of 2.61 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the prior year, the business earned $0.50 EPS. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BSX has been the subject of several analyst reports. Royal Bank of Canada boosted their target price on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Truist Financial boosted their target price on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Thursday, October 31st. Finally, Mizuho upped 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, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.39.

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.