Boston Scientific (NYSE:BSX) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Boston Scientific (NYSE:BSXFree Report) from a hold rating to a buy rating in a report issued on Monday morning.

Several other brokerages have also issued reports on BSX. Royal Bank of Canada boosted their price objective on shares of Boston Scientific from $78.00 to $82.00 and gave the company an outperform rating in a report on Thursday, April 25th. Robert W. Baird boosted their price objective on shares of Boston Scientific from $79.00 to $84.00 and gave the company an outperform rating in a report on Thursday, April 25th. Evercore ISI boosted their price objective on shares of Boston Scientific from $72.00 to $78.00 and gave the company an outperform rating in a report on Thursday, April 25th. Raymond James boosted their price objective on shares of Boston Scientific from $73.00 to $85.00 and gave the company a strong-buy rating in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Boston Scientific from $63.00 to $73.00 and gave the company a hold rating in a research report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $76.70.

View Our Latest Stock Report on Boston Scientific

Boston Scientific Stock Down 1.3 %

NYSE BSX opened at $76.71 on Monday. Boston Scientific has a 52 week low of $48.35 and a 52 week high of $77.99. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $74.09 and its 200-day simple moving average is $67.07. The firm has a market cap of $112.54 billion, a PE ratio of 64.46, a P/E/G ratio of 2.72 and a beta of 0.81.

Boston Scientific (NYSE:BSXGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.51 by $0.05. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.68 billion. As a group, equities analysts anticipate that Boston Scientific will post 2.32 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the sale, the executive vice president now owns 45,628 shares in the company, valued at $3,437,157.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the sale, the executive vice president now owns 45,628 shares in the company, valued at $3,437,157.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the sale, the director now owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. Insiders sold a total of 81,627 shares of company stock worth $5,937,353 over the last 90 days. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Boston Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Foundation Advisors purchased a new stake in Boston Scientific in the first quarter valued at approximately $25,000. Eagle Bay Advisors LLC lifted its stake in Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. RiverPark Advisors LLC purchased a new stake in shares of Boston Scientific during the first quarter worth approximately $30,000. Northwest Investment Counselors LLC purchased a new stake in shares of Boston Scientific during the first quarter worth approximately $31,000. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of Boston Scientific during the first quarter worth approximately $32,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

About Boston Scientific

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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.

Further Reading

Analyst Recommendations for Boston Scientific (NYSE:BSX)

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