Boston Scientific (NYSE:BSX) Earns Hold Rating from Needham & Company LLC

Boston Scientific (NYSE:BSX)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports.

Other equities research analysts have also issued reports about the stock. Royal Bank of Canada raised their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Sanford C. Bernstein increased their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Raymond James boosted their price objective on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Truist Financial increased their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Mizuho boosted their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Four 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 stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $90.19 on Wednesday. The business’s fifty day moving average price is $86.26 and its 200 day moving average price is $80.44. Boston Scientific has a twelve month low of $53.93 and a twelve month high of $91.93. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $132.92 billion, a P/E ratio of 74.54, a PEG ratio of 2.63 and a beta of 0.79.

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

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 328,157 shares of company stock valued at $27,894,270. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Institutional investors and hedge funds have recently bought and sold shares of the business. Synovus Financial Corp lifted its holdings in shares of Boston Scientific by 7.1% during the 3rd quarter. Synovus Financial Corp now owns 17,518 shares of the medical equipment provider’s stock valued at $1,468,000 after buying an additional 1,167 shares during the last quarter. Tidal Investments LLC grew its position in shares of Boston Scientific by 8.8% in the third quarter. Tidal Investments LLC now owns 86,507 shares of the medical equipment provider’s stock valued at $7,249,000 after purchasing an additional 6,990 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Boston Scientific in the 3rd quarter valued at approximately $1,175,000. World Investment Advisors LLC increased its position in Boston Scientific by 50.9% during the third quarter. World Investment Advisors LLC now owns 11,684 shares of the medical equipment provider’s stock worth $979,000 after acquiring an additional 3,939 shares during the period. Finally, Passumpsic Savings Bank acquired a new position in shares of Boston Scientific during the third quarter valued at about $3,015,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.