Boston Scientific (NYSE:BSX) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Boston Scientific (NYSE:BSX) from a hold rating to a buy rating in a research report released on Friday morning.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird upped their price target on Boston Scientific from $79.00 to $84.00 and gave the stock an outperform rating in a report on Thursday, April 25th. Needham & Company LLC reaffirmed a buy rating and set a $82.00 price target on shares of Boston Scientific in a report on Tuesday, June 18th. Mizuho boosted their price objective on shares of Boston Scientific from $85.00 to $90.00 and gave the stock a buy rating in a report on Wednesday, May 15th. Deutsche Bank Aktiengesellschaft raised their target price on Boston Scientific from $63.00 to $73.00 and gave the company a hold rating in a research note on Thursday, April 25th. Finally, Citigroup boosted their price target on Boston Scientific from $87.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $78.29.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $77.69 on Friday. The business’s fifty day moving average price is $75.81 and its 200 day moving average price is $69.14. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $77.99. 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 stock has a market capitalization of $113.98 billion, a P/E ratio of 65.29, a PEG ratio of 2.67 and a beta of 0.78.

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

Insider Buying and Selling at Boston Scientific

In related news, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,620,617. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at $3,620,617. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the transaction, the executive vice president now 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. Insiders sold a total of 72,259 shares of company stock worth $5,344,014 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in Boston Scientific during the fourth quarter worth approximately $930,626,000. Putnam Investments LLC boosted its stake in shares of Boston Scientific by 110.5% during the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after acquiring an additional 6,859,280 shares in the last quarter. Capital World Investors grew its holdings in shares of Boston Scientific by 236.1% in the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after acquiring an additional 6,617,360 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of Boston Scientific during the first quarter worth $182,897,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Boston Scientific by 1.6% during the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after purchasing an additional 1,988,082 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.