LGT Fund Management Co Ltd. Makes New Investment in Boston Scientific Co. (NYSE:BSX)

LGT Fund Management Co Ltd. bought a new position in Boston Scientific Co. (NYSE:BSX) in the second quarter, Holdings Channel.com reports. The institutional investor bought 4,001 shares of the medical equipment provider’s stock, valued at approximately $308,000.

Other large investors have also added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new position in Boston Scientific in the second quarter worth about $26,000. First Foundation Advisors bought a new position in Boston Scientific in the first quarter worth about $25,000. Eagle Bay Advisors LLC raised its holdings in Boston Scientific by 542.1% in 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. Lynx Investment Advisory bought a new position in Boston Scientific in the second quarter worth about $30,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in shares of Boston Scientific during the second quarter valued at about $31,000. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares in the company, valued at approximately $2,978,734.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 20,949 shares of company stock worth $1,627,877 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 0.5 %

Shares of NYSE:BSX opened at $83.04 on Wednesday. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $83.22. The firm has a market capitalization of $122.29 billion, a price-to-earnings ratio of 69.78, a price-to-earnings-growth ratio of 2.71 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The business’s 50 day moving average price is $77.65 and its 200-day moving average price is $73.81.

Boston Scientific (NYSE:BSX) last announced its 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. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the firm posted $0.53 EPS. The business’s revenue was up 14.5% on a year-over-year basis. On average, equities research analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Robert W. Baird upped their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. The Goldman Sachs Group assumed coverage on shares of Boston Scientific in a report on Thursday, May 30th. They set a “buy” rating and a $90.00 price objective on the stock. Needham & Company LLC upped their price objective on shares of Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, TD Cowen upped their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.38.

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.