Boston Scientific Co. (NYSE:BSX) Receives Average Rating of “Moderate Buy” from Analysts

Boston Scientific Co. (NYSE:BSX) has earned a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $77.41.

Several equities research analysts have commented on the stock. Mizuho boosted their target price on shares of Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Citigroup boosted their target price on shares of Boston Scientific from $85.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Finally, TD Cowen boosted their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th.

Boston Scientific Stock Performance

Shares of BSX opened at $76.11 on Thursday. The stock has a market capitalization of $111.66 billion, a P/E ratio of 63.96, a P/E/G ratio of 2.65 and a beta of 0.78. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $77.99. The company’s fifty day moving average is $75.16 and its two-hundred day moving average is $67.96. 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 (NYSE:BSX) last issued its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS 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 analyst estimates of $3.68 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. On average, sell-side analysts predict that Boston Scientific will post 2.32 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the transaction, the executive vice president now owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the transaction, the executive vice president now owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the transaction, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,259 shares of company stock worth $5,344,014. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System acquired a new stake in Boston Scientific during the 4th quarter worth approximately $5,116,000. Glenmede Trust Co. NA increased its position in Boston Scientific by 12.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after purchasing an additional 1,123 shares in the last quarter. Sierra Summit Advisors LLC acquired a new stake in Boston Scientific during the 4th quarter worth approximately $8,038,000. TD Asset Management Inc increased its position in Boston Scientific by 10.7% during the 4th quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock worth $93,417,000 after purchasing an additional 155,565 shares in the last quarter. Finally, HealthInvest Partners AB acquired a new stake in Boston Scientific during the 4th quarter worth approximately $3,746,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.