Boston Scientific Co. (NYSE:BSX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Boston Scientific Co. (NYSE:BSX) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three research firms that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $95.96.

A number of brokerages recently weighed in on BSX. BTIG Research boosted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Morgan Stanley upped their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. TD Cowen upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Mizuho boosted their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Evercore ISI increased their price objective on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $91.07 on Thursday. The business has a 50-day simple moving average of $88.52 and a 200-day simple moving average of $82.60. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific has a one year low of $55.69 and a one year high of $91.93. The company has a market cap of $134.22 billion, a PE ratio of 75.26, a P/E/G ratio of 2.67 and a beta of 0.80.

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

Insiders Place Their Bets

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the sale, the executive vice president now owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. This represents a 19.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the transaction, the director now directly owns 39,398 shares of the company’s stock, valued at $3,610,038.74. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 328,157 shares of company stock worth $27,957,676. 0.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Several hedge funds have recently modified their holdings of the company. CRA Financial Services LLC lifted its stake in shares of Boston Scientific by 4.3% during the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after buying an additional 117 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Boston Scientific by 9.7% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after acquiring an additional 119 shares during the last quarter. Adero Partners LLC lifted its stake in shares of Boston Scientific by 3.6% during the 3rd quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock worth $303,000 after purchasing an additional 127 shares during the period. Ashton Thomas Securities LLC boosted its holdings in shares of Boston Scientific by 1.3% during the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock worth $835,000 after purchasing an additional 129 shares during the last quarter. Finally, Jacobsen Capital Management grew its position in shares of Boston Scientific by 4.9% in the third quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider’s stock valued at $236,000 after purchasing an additional 133 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.