Boston Scientific Co. (NYSE:BSX) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 8.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,410 shares of the medical equipment provider’s stock after selling 413 shares during the period. E Fund Management Co. Ltd.’s holdings in Boston Scientific were worth $340,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Eagle Bay Advisors LLC increased its position in shares of Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares in the last quarter. First Foundation Advisors acquired a new position in shares of Boston Scientific during the first quarter worth $25,000. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific during the second quarter worth $26,000. Andra AP fonden acquired a new position in shares of Boston Scientific during the second quarter worth $29,000. Finally, RiverPark Advisors LLC acquired a new position in shares of Boston Scientific in the 1st quarter valued at $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BSX has been the topic of several research reports. Robert W. Baird upped their target price on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Raymond James upped their target price on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 4th. Citigroup upped their target price on Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Needham & Company LLC upped their target price on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group upped their target price on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total value of $539,785.90. Following the transaction, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 20,949 shares of company stock valued at $1,627,877. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Trading Up 0.1 %

BSX stock opened at $82.57 on Thursday. The firm has a market cap of $121.14 billion, a P/E ratio of 69.39, a PEG ratio of 2.75 and a beta of 0.79. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $84.11. The company’s 50-day simple moving average is $78.46 and its 200-day simple moving average is $74.45. 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 (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period last year, the company posted $0.53 EPS. As a group, equities analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

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.