Richelieu Gestion SA Purchases New Position in Boston Scientific Co. (NYSE:BSX)

Richelieu Gestion SA bought a new position in Boston Scientific Co. (NYSE:BSX) during the 1st quarter, HoldingsChannel reports. The firm bought 2,700 shares of the medical equipment provider’s stock, valued at approximately $185,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BSX. Bruce G. Allen Investments LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at approximately $28,000. Northwest Investment Counselors LLC bought a new stake in shares of Boston Scientific during the first quarter worth $31,000. Sachetta LLC bought a new stake in shares of Boston Scientific during the fourth quarter worth $32,000. Frazier Financial Advisors LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth $32,000. Finally, Jones Financial Companies Lllp lifted its position in Boston Scientific by 53.0% in the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 193 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,011 shares of Boston Scientific stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the sale, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the sale, the executive vice president now owns 20,197 shares in the company, valued at $1,521,641.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the transaction, the executive vice president now directly owns 45,628 shares in the company, valued at approximately $3,437,157.24. The disclosure for this sale can be found here. Insiders have sold 81,627 shares of company stock worth $5,937,353 in the last quarter. Company insiders own 0.50% of the company’s stock.

Boston Scientific Trading Down 0.4 %

Shares of Boston Scientific stock traded down $0.33 during trading on Wednesday, hitting $77.18. The company’s stock had a trading volume of 3,334,074 shares, compared to its average volume of 6,298,866. The stock has a market cap of $113.23 billion, a price-to-earnings ratio of 64.96, a price-to-earnings-growth ratio of 2.67 and a beta of 0.81. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $77.99. The stock has a 50-day moving average price of $74.27 and a two-hundred day moving average price of $67.23.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. Equities research analysts anticipate that Boston Scientific Co. will post 2.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BSX. Wells Fargo & Company boosted their price target on Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Mizuho lifted their price objective on shares of Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Citigroup boosted their price target on Boston Scientific from $85.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Needham & Company LLC reissued a “buy” rating and set a $82.00 target price on shares of Boston Scientific in a report on Tuesday, June 18th. Finally, Argus raised their price target on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $76.70.

Boston Scientific Company 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.