Boston Scientific (NYSE:BSX) Downgraded by StockNews.com to “Hold”

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

A number of other research firms have also issued reports on BSX. Piper Sandler raised their target price on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Morgan Stanley raised their target price on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Sanford C. Bernstein raised their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus raised their target price on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $107.39.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $105.41 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The firm has a market cap of $155.36 billion, a price-to-earnings ratio of 84.33, a P/E/G ratio of 2.79 and a beta of 0.80. The business’s 50-day simple moving average is $97.69 and its 200-day simple moving average is $89.06. Boston Scientific has a 52 week low of $65.33 and a 52 week high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. As a group, equities research analysts expect that Boston Scientific will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 1,201 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the completion of the transaction, the executive vice president now owns 25,443 shares in the company, valued at $2,704,845.33. This trade represents a 4.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction 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 completion of the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 153,640 shares of company stock worth $15,718,289 in the last 90 days. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp raised its position in Boston Scientific by 35.4% in the 4th quarter. Mackenzie Financial Corp now owns 953,375 shares of the medical equipment provider’s stock valued at $85,155,000 after purchasing an additional 249,435 shares during the last quarter. Forum Financial Management LP raised its position in Boston Scientific by 13.8% in the 4th quarter. Forum Financial Management LP now owns 13,336 shares of the medical equipment provider’s stock valued at $1,191,000 after purchasing an additional 1,621 shares during the last quarter. Sunbeam Capital Management LLC bought a new position in Boston Scientific in the 4th quarter valued at $26,000. Warm Springs Advisors Inc. bought a new position in Boston Scientific in the 4th quarter valued at $652,000. Finally, GF Fund Management CO. LTD. bought a new position in Boston Scientific in the 4th quarter valued at $2,791,000. Institutional investors 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.