Ecofi Investissements SA Makes New $11.06 Million Investment in Boston Scientific Co. (NYSE:BSX)

Ecofi Investissements SA purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 155,000 shares of the medical equipment provider’s stock, valued at approximately $11,058,000. Boston Scientific makes up approximately 6.1% of Ecofi Investissements SA’s holdings, making the stock its 5th biggest holding.

Several other institutional investors also recently bought and sold shares of the company. Sierra Summit Advisors LLC purchased a new stake in Boston Scientific in the 4th quarter valued at $8,038,000. BI Asset Management Fondsmaeglerselskab A S increased its position in Boston Scientific by 225.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after purchasing an additional 73,219 shares during the last quarter. BDF Gestion purchased a new position in Boston Scientific during the second quarter worth about $3,570,000. Precision Wealth Strategies LLC purchased a new stake in shares of Boston Scientific in the 4th quarter valued at approximately $956,000. Finally, Tlwm acquired a new stake in shares of Boston Scientific during the 1st quarter worth approximately $927,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Barclays raised their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. TD Cowen boosted their price target on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. lifted their price objective on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. BTIG Research lifted their target price on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Needham & Company LLC increased their price target on shares of Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.65.

Insider Buying and Selling at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 0.3 %

NYSE BSX opened at $83.35 on Monday. The firm’s fifty day moving average is $79.33 and its two-hundred day moving average is $75.31. Boston Scientific Co. has a one year low of $48.35 and a one year high of $84.89. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The firm has a market cap of $122.28 billion, a PE ratio of 70.04, a P/E/G ratio of 2.78 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current 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.