E Fund Management Co. Ltd. Raises Stock Position in Boston Scientific Co. (NYSE:BSX)

E Fund Management Co. Ltd. raised its stake in Boston Scientific Co. (NYSE:BSX) by 17.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,607 shares of the medical equipment provider’s stock after buying an additional 683 shares during the period. E Fund Management Co. Ltd.’s holdings in Boston Scientific were worth $266,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BSX. FMR LLC increased its holdings in Boston Scientific by 6.8% in the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after buying an additional 8,045,263 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Boston Scientific by 391.6% during the 3rd quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock worth $172,752,000 after purchasing an additional 2,606,253 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Boston Scientific by 5.9% during the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after purchasing an additional 2,336,348 shares in the last quarter. Winslow Capital Management LLC increased its stake in shares of Boston Scientific by 39.3% during the 3rd quarter. Winslow Capital Management LLC now owns 6,129,573 shares of the medical equipment provider’s stock worth $323,641,000 after purchasing an additional 1,730,133 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Boston Scientific by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 123,768,348 shares of the medical equipment provider’s stock worth $6,534,969,000 after purchasing an additional 1,525,432 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BSX has been the subject of a number of recent research reports. UBS Group raised their price objective on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Barclays lifted their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Evercore ISI lifted their target price on shares of Boston Scientific from $72.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Oppenheimer lifted their target price on shares of Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a research note on Thursday, February 1st. Finally, Robert W. Baird lifted their target price on shares of Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Three 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.09.

Insiders Place Their Bets

In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the transaction, the chief financial officer now owns 271,542 shares in the company, valued at approximately $17,883,756.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the sale, the director now owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the sale, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The disclosure for this sale can be found here. Insiders have sold 82,330 shares of company stock worth $5,682,434 in the last quarter. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Up 1.9 %

BSX stock traded up $1.38 during trading on Thursday, reaching $74.10. The stock had a trading volume of 6,134,504 shares, compared to its average volume of 6,590,729. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $74.39. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $108.71 billion, a P/E ratio of 62.27, a PEG ratio of 2.51 and a beta of 0.77. The firm has a fifty day moving average price of $68.79 and a 200 day moving average price of $61.81.

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.