GF Fund Management CO. LTD. Acquires Shares of 31,252 Boston Scientific Co. (NYSE:BSX)

GF Fund Management CO. LTD. bought a new stake in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, HoldingsChannel.com reports. The firm bought 31,252 shares of the medical equipment provider’s stock, valued at approximately $2,791,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BSX. Janney Montgomery Scott LLC grew its position in Boston Scientific by 4.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 207,162 shares of the medical equipment provider’s stock valued at $18,504,000 after acquiring an additional 8,522 shares during the last quarter. Brighton Jones LLC grew its holdings in shares of Boston Scientific by 0.8% during the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock valued at $2,445,000 after purchasing an additional 226 shares during the last quarter. CX Institutional increased its position in Boston Scientific by 16.5% during the 4th quarter. CX Institutional now owns 10,245 shares of the medical equipment provider’s stock worth $915,000 after purchasing an additional 1,451 shares in the last quarter. Sachetta LLC lifted its stake in Boston Scientific by 157.5% in the 4th quarter. Sachetta LLC now owns 1,450 shares of the medical equipment provider’s stock valued at $130,000 after purchasing an additional 887 shares during the last quarter. Finally, Goelzer Investment Management Inc. lifted its stake in Boston Scientific by 1.8% in the 4th quarter. Goelzer Investment Management Inc. now owns 35,337 shares of the medical equipment provider’s stock valued at $3,156,000 after purchasing an additional 628 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president now directly owns 36,193 shares of the company’s stock, valued at approximately $3,441,592.37. This represents a 11.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the sale, the executive vice president now directly owns 18,705 shares of the company’s stock, valued at $1,955,420.70. This trade represents a 19.64% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,830 shares of company stock worth $20,043,415. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX opened at $104.49 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm’s fifty day simple moving average is $99.97 and its two-hundred day simple moving average is $97.37. Boston Scientific Co. has a 12 month low of $71.88 and a 12 month high of $107.17. The stock has a market capitalization of $154.59 billion, a P/E ratio of 83.59, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the business earned $0.56 EPS. The firm’s revenue was up 20.9% compared to the same quarter last year. As a group, analysts predict that Boston Scientific Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BSX. Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Morgan Stanley boosted their price objective on Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Stifel Nicolaus increased their target price on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. BTIG Research restated a “buy” rating and set a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Finally, Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Twenty-three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $114.87.

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.