Boston Scientific’s (BSX) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Boston Scientific (NYSE:BSX) in a report published on Monday morning,Benzinga reports.

BSX has been the subject of a number of other research reports. Morgan Stanley lifted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Canaccord Genuity Group lifted their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Piper Sandler lifted their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a report on Friday, January 10th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $108.91.

Boston Scientific Stock Up 1.2 %

Shares of BSX stock opened at $104.82 on Monday. The firm’s fifty day moving average price is $100.10 and its two-hundred day moving average price is $90.89. Boston Scientific has a 1 year low of $65.52 and a 1 year high of $107.17. The firm has a market capitalization of $154.68 billion, a P/E ratio of 83.85, a PEG ratio of 2.79 and a beta of 0.80. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last announced 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 net margin of 11.07% and a return on equity of 17.80%. On average, equities analysts predict that Boston Scientific will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. This represents a 75.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the transaction, the executive vice president now owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,322 shares of company stock worth $14,321,068 in the last three months. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors have recently added to or reduced their stakes in BSX. TFC Financial Management Inc. grew its holdings in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 210 shares during the last quarter. Colonial Trust Co SC grew its holdings in Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 260 shares during the last quarter. Investment Management Corp VA ADV bought a new stake in Boston Scientific during the 4th quarter worth approximately $25,000. Sunbeam Capital Management LLC bought a new stake in Boston Scientific during the 4th quarter worth approximately $26,000. Finally, Dunhill Financial LLC boosted its stake in shares of Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

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.