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

Shares of Boston Scientific Co. (NYSE:BSX) have been given an average rating of “Buy” by the twenty-three ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, twenty-one have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $108.91.

BSX has been the subject of several analyst reports. Barclays upped their price objective on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Raymond James increased their price target on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research note on Friday, January 10th. Piper Sandler lifted their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Citigroup increased their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, February 6th.

Insider Transactions at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the transaction, the executive vice president now owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel J. Brennan sold 15,087 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the sale, the chief financial officer now directly owns 241,451 shares in the company, valued at $25,369,256.57. This represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,183 shares of company stock valued at $13,948,476 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors and hedge funds have recently modified their holdings of BSX. TFC Financial Management Inc. lifted its stake in shares of 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 purchasing an additional 210 shares during the period. Colonial Trust Co SC increased its stake in 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 valued at $25,000 after purchasing an additional 260 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in Boston Scientific in the 4th quarter worth about $25,000. Sunbeam Capital Management LLC purchased a new stake in Boston Scientific in the 4th quarter valued at about $26,000. Finally, Dunhill Financial LLC lifted its holdings in shares of Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 152 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $100.07 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a market cap of $148.01 billion, a P/E ratio of 80.06, a P/E/G ratio of 2.79 and a beta of 0.77. The stock has a 50 day moving average of $102.20 and a two-hundred day moving average of $93.48. Boston Scientific has a twelve month low of $66.80 and a twelve month high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping 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, research analysts forecast that Boston Scientific will post 2.85 earnings per share for the current 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.