BTIG Research Upgrades Boston Scientific (BSX) to “Buy”
Boston Scientific (NYSE:BSX) was upgraded by equities research analysts at BTIG Research from a “neutral” rating to a “buy” rating in a report released on Thursday, MarketBeat Ratings reports. The firm presently has a $31.00 price target on the medical equipment provider’s stock. BTIG Research’s price objective would suggest a potential upside of 17.96% from the company’s current price.
BSX has been the topic of several other research reports. SunTrust Banks set a $34.00 price target on shares of Boston Scientific and gave the company a “buy” rating in a report on Tuesday, October 31st. Zacks Investment Research downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, October 30th. BidaskClub downgraded shares of Boston Scientific from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Oppenheimer reaffirmed a “hold” rating on shares of Boston Scientific in a report on Wednesday, August 9th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $31.00 price target on shares of Boston Scientific in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.67.
Boston Scientific (BSX) traded up $0.33 on Thursday, hitting $26.28. 18,718,173 shares of the company were exchanged, compared to its average volume of 6,811,406. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.50 and a current ratio of 0.72. The stock has a market capitalization of $36,238.64, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 2.04 and a beta of 1.00. Boston Scientific has a one year low of $19.67 and a one year high of $29.93.
In other news, EVP Timothy A. Pratt sold 10,104 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $27.46, for a total value of $277,455.84. Following the transaction, the executive vice president now owns 185,742 shares of the company’s stock, valued at $5,100,475.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy A. Pratt sold 11,061 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $29.24, for a total transaction of $323,423.64. Following the completion of the transaction, the executive vice president now directly owns 174,681 shares in the company, valued at approximately $5,107,672.44. The disclosure for this sale can be found here. Insiders sold 424,802 shares of company stock worth $12,290,609 in the last three months. Insiders own 0.74% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Valeo Financial Advisors LLC bought a new stake in Boston Scientific in the third quarter worth $138,000. Steward Partners Investment Advisory LLC bought a new stake in Boston Scientific in the third quarter worth $139,000. Acrospire Investment Management LLC increased its position in Boston Scientific by 157.3% in the second quarter. Acrospire Investment Management LLC now owns 5,071 shares of the medical equipment provider’s stock worth $141,000 after purchasing an additional 3,100 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Boston Scientific by 14.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,761 shares of the medical equipment provider’s stock worth $160,000 after purchasing an additional 720 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA bought a new stake in Boston Scientific in the second quarter worth $191,000. Institutional investors own 90.55% of the company’s stock.
Boston Scientific Company Profile
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.
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