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

Shares of Boston Scientific Co. (NYSE:BSX) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $84.76.

A number of research firms recently commented on BSX. Mizuho lifted their price target 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. StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Evercore ISI boosted their target price on shares of Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. boosted their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Citigroup boosted their target price on shares of Boston Scientific from $87.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 10th.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 45,628 shares in the company, valued at $3,437,157.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP John Bradley Sorenson sold 17,587 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,620,617. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The disclosure for this sale can be found here. Insiders sold a total of 62,441 shares of company stock worth $4,624,453 over the last three months. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Institutional investors have recently bought and sold shares of the stock. Eagle Bay Advisors LLC raised its stake 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 buying an additional 309 shares in the last quarter. First Foundation Advisors bought a new position in shares of Boston Scientific during the first quarter valued at approximately $25,000. Triad Wealth Partners LLC bought a new position in shares of Boston Scientific during the second quarter valued at approximately $26,000. RiverPark Advisors LLC bought a new position in shares of Boston Scientific during the first quarter valued at approximately $30,000. Finally, Lynx Investment Advisory bought a new position in shares of Boston Scientific during the second quarter valued at approximately $30,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $74.92 on Monday. Boston Scientific has a one year low of $48.35 and a one year high of $79.43. The firm has a market capitalization of $109.92 billion, a price-to-earnings ratio of 62.96, a PEG ratio of 2.49 and a beta of 0.78. The business has a 50-day simple moving average of $76.49 and a 200 day simple moving average of $70.47. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the business earned $0.53 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. On average, research analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

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.