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

Boston Scientific Co. (NYSE:BSX) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $85.24.

A number of equities analysts have weighed in on BSX shares. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price target on shares of Boston Scientific in a report on Thursday, July 25th. BTIG Research upped their price target on Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Truist Financial upped their price target on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Barclays upped their price target on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their target price on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th.

Boston Scientific Trading Up 1.0 %

NYSE BSX opened at $79.58 on Friday. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $79.92. The company has a 50-day moving average of $76.54 and a 200-day moving average of $72.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The company has a market cap of $116.75 billion, a P/E ratio of 66.87, a P/E/G ratio of 2.49 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 EPS. As a group, equities analysts predict that Boston Scientific will post 2.4 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the transaction, the executive vice president now directly owns 45,628 shares in the company, valued at $3,437,157.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boston Scientific news, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the sale, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value 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 disclosure for this sale can be found here. Insiders have sold 34,960 shares of company stock worth $2,638,984 over the last ninety days. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Scientific

Several large investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC increased its position in Boston Scientific by 7.4% in the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after buying an additional 131 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Boston Scientific by 0.6% during the second quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock valued at $1,740,000 after purchasing an additional 139 shares during the period. ST Germain D J Co. Inc. increased its holdings in shares of Boston Scientific by 8.0% during the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after purchasing an additional 143 shares during the period. Pinnacle Associates Ltd. increased its holdings in shares of Boston Scientific by 2.0% during the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after purchasing an additional 148 shares during the period. Finally, Transcend Capital Advisors LLC increased its holdings in shares of Boston Scientific by 2.2% during the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after purchasing an additional 148 shares during the period. 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.