Richelieu Gestion SA Makes New $185,000 Investment in Boston Scientific Co. (NYSE:BSX)

Richelieu Gestion SA purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,700 shares of the medical equipment provider’s stock, valued at approximately $185,000.

Several other institutional investors have also added to or reduced their stakes in BSX. LPL Financial LLC raised its holdings in shares of Boston Scientific by 5.1% in the third quarter. LPL Financial LLC now owns 362,592 shares of the medical equipment provider’s stock worth $19,145,000 after buying an additional 17,463 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in Boston Scientific by 5.2% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 6,025 shares of the medical equipment provider’s stock valued at $318,000 after buying an additional 300 shares during the period. Mariner LLC boosted its holdings in shares of Boston Scientific by 8.8% in the 3rd quarter. Mariner LLC now owns 126,730 shares of the medical equipment provider’s stock valued at $6,691,000 after buying an additional 10,214 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its position in shares of Boston Scientific by 5.9% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 19,223 shares of the medical equipment provider’s stock worth $1,015,000 after buying an additional 1,079 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in Boston Scientific by 20.6% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 18,156 shares of the medical equipment provider’s stock valued at $959,000 after acquiring an additional 3,100 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 0.4 %

Shares of Boston Scientific stock traded down $0.33 during trading hours on Wednesday, reaching $77.18. 3,334,074 shares of the company were exchanged, compared to its average volume of 6,298,866. The firm has a market cap of $113.23 billion, a PE ratio of 64.96, a PEG ratio of 2.67 and a beta of 0.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $77.99. The stock’s fifty day moving average is $74.27 and its 200 day moving average is $67.23.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. As a group, equities research analysts forecast that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the transaction, the executive vice president now owns 45,628 shares in the company, valued at $3,437,157.24. The disclosure for this sale can be found here. Insiders sold 81,627 shares of company stock worth $5,937,353 over the last 90 days. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BSX shares. Deutsche Bank Aktiengesellschaft boosted their price target on Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of Boston Scientific in a research note on Tuesday, June 18th. Evercore ISI lifted their price objective on Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. The Goldman Sachs Group began coverage on Boston Scientific in a research report on Thursday, May 30th. They set a “buy” rating and a $90.00 price target for the company. Finally, UBS Group upped their price objective on Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Two equities 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.70.

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.