E Fund Management Co. Ltd. Sells 413 Shares of Boston Scientific Co. (NYSE:BSX)

E Fund Management Co. Ltd. trimmed its position in shares of Boston Scientific Co. (NYSE:BSX) by 8.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,410 shares of the medical equipment provider’s stock after selling 413 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Boston Scientific were worth $340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Bay Advisors LLC raised its holdings in Boston Scientific by 542.1% in the 1st 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 during the period. First Foundation Advisors bought a new position in Boston Scientific in the 1st quarter worth $25,000. Triad Wealth Partners LLC bought a new position in Boston Scientific in the 2nd quarter worth $26,000. Andra AP fonden bought a new position in Boston Scientific in the 2nd quarter worth $29,000. Finally, RiverPark Advisors LLC bought a new position in Boston Scientific in the 1st quarter worth $30,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Up 0.1 %

Shares of NYSE BSX opened at $82.57 on Thursday. 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 capitalization of $121.14 billion, a price-to-earnings ratio of 69.39, a PEG ratio of 2.75 and a beta of 0.79. The stock has a 50 day moving average price of $78.46 and a 200 day moving average price of $74.45. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $84.11.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Needham & Company LLC lifted their price target on Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. BTIG Research lifted their price target on Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Raymond James lifted their price target on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, TD Cowen lifted their price target on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on 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 owns 37,468 shares in the company, valued at $3,061,135.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 20,949 shares of company stock worth $1,627,877 over the last 90 days. Company insiders own 0.50% of the company’s stock.

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.