Boston Scientific (NYSE:BSX) Sets New 12-Month High – Time to Buy?

Boston Scientific Co. (NYSE:BSX) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $89.35 and last traded at $88.75, with a volume of 461073 shares changing hands. The stock had previously closed at $86.99.

Analyst Ratings Changes

Several research firms have recently commented on BSX. Evercore ISI increased their target price on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Thursday, October 31st. Robert W. Baird boosted their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Bank of America lifted their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, nineteen 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 a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Price Performance

The firm has a market capitalization of $133.25 billion, a P/E ratio of 71.89, a P/E/G ratio of 2.56 and a beta of 0.79. The business’s fifty day moving average is $85.26 and its 200 day moving average is $79.59. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the firm posted $0.50 EPS. The company’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. This represents a 15.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 309,270 shares of company stock worth $26,196,718. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

A number of hedge funds have recently modified their holdings of the stock. Triad Wealth Partners LLC purchased a new position in Boston Scientific in the second quarter valued at about $26,000. Values First Advisors Inc. bought a new stake in shares of Boston Scientific in the 3rd quarter valued at approximately $28,000. Dunhill Financial LLC increased its holdings in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares during the last quarter. Andra AP fonden bought a new position in Boston Scientific during the second quarter valued at approximately $29,000. Finally, Lynx Investment Advisory bought a new stake in Boston Scientific in the second quarter worth approximately $30,000. 89.07% of the stock is 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.