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

Shares of Boston Scientific Co. (NYSE:BSX) have been assigned an average rating of “Buy” from the twenty-three analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $108.91.

BSX has been the subject of several research reports. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Royal Bank of Canada boosted their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Stifel Nicolaus boosted their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th.

Insider Activity

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the sale, the executive vice president now owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.25, for a total value 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 137,302 shares of company stock valued at $14,319,269 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BSX. TFC Financial Management Inc. boosted its stake in shares of Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares during the period. Colonial Trust Co SC grew its stake in shares of Boston Scientific by 1,625.0% in the fourth 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 in the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of Boston Scientific during the fourth quarter worth $25,000. Sunbeam Capital Management LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at $26,000. Finally, Dunhill Financial LLC boosted 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 valued at $28,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Boston Scientific stock opened at $93.79 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific has a twelve month low of $65.52 and a twelve month high of $107.17. The company’s 50-day moving average price is $100.54 and its 200-day moving average price is $91.37. The company has a market cap of $138.42 billion, a PE ratio of 75.04, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate 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 research analysts forecast that Boston Scientific will post 2.85 EPS for the current fiscal year.

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.