Boston Scientific (BSX) – Analysts’ Weekly Ratings Changes

Posted by ABMN Staff on Apr 19th, 2024

Boston Scientific logo Several analysts have recently updated their ratings and price targets for Boston Scientific (NYSE: BSX):

4/15/2024 – Boston Scientific had its price target raised by analysts at Royal Bank of Canada from $70.00 to $78.00. They now have an “outperform” rating on the stock.
4/4/2024 – Boston Scientific had its price target raised by analysts at Evercore ISI from $68.00 to $72.00. They now have an “outperform” rating on the stock.
4/3/2024 – Boston Scientific had its price target raised by analysts at Citigroup Inc. from $71.00 to $79.00. They now have a “buy” rating on the stock.
4/3/2024 – Boston Scientific had its price target raised by analysts at Argus from $69.00 to $80.00. They now have a “buy” rating on the stock.
3/16/2024 – Boston Scientific was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
3/8/2024 – Boston Scientific was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
3/7/2024 – Boston Scientific had its price target raised by analysts at TD Cowen from $65.00 to $77.00. They now have an “outperform” rating on the stock.
2/29/2024 – Boston Scientific was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Boston Scientific Stock Down 0.8 %

BSX stock opened at $67.42 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $69.21. The firm’s 50-day simple moving average is $67.21 and its 200 day simple moving average is $59.74. The stock has a market cap of $98.91 billion, a PE ratio of 63.01, a price-to-earnings-growth ratio of 2.39 and a beta of 0.78.

Boston Scientific (NYSE:BSX – Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. During the same quarter last year, the company earned $0.45 EPS. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.25 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares in the company, valued at approximately $2,690,551.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,979 shares of company stock valued at $3,418,529. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its position in shares of Boston Scientific by 5.6% during the 3rd quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock valued at $27,353,000 after purchasing an additional 27,620 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Boston Scientific in the fourth quarter worth about $5,116,000. Glenmede Trust Co. NA boosted its holdings in shares of Boston Scientific by 12.1% in the third quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after buying an additional 1,123 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Boston Scientific by 2.1% in the third quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock worth $98,683,000 after buying an additional 38,249 shares during the period. Finally, HealthInvest Partners AB acquired a new position in shares of Boston Scientific in the fourth quarter worth about $3,746,000. Institutional investors own 89.07% of the company’s stock.

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.