Boston Scientific Co. (NYSE:BSX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Boston Scientific Co. (NYSE:BSX) have been given an average rating of “Moderate Buy” by the twenty-three analysts that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $93.39.

Several research analysts have recently weighed in on the stock. Raymond James upped their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a report on Wednesday. Mizuho increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada increased their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Sanford C. Bernstein increased their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th.

Insider Activity

In related news, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were 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 in the company, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 328,157 shares of company stock valued at $27,894,270 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors and hedge funds have recently modified their holdings of BSX. Synovus Financial Corp grew its stake in Boston Scientific by 7.1% during the third quarter. Synovus Financial Corp now owns 17,518 shares of the medical equipment provider’s stock worth $1,468,000 after buying an additional 1,167 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Boston Scientific by 8.8% in the 3rd quarter. Tidal Investments LLC now owns 86,507 shares of the medical equipment provider’s stock valued at $7,249,000 after purchasing an additional 6,990 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Boston Scientific in the 3rd quarter valued at approximately $1,175,000. World Investment Advisors LLC boosted its stake in shares of Boston Scientific by 50.9% in the 3rd quarter. World Investment Advisors LLC now owns 11,684 shares of the medical equipment provider’s stock valued at $979,000 after purchasing an additional 3,939 shares in the last quarter. Finally, Passumpsic Savings Bank acquired a new stake in shares of Boston Scientific in the 3rd quarter valued at approximately $3,015,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Up 0.6 %

Boston Scientific stock opened at $90.75 on Friday. The stock has a market capitalization of $133.75 billion, a PE ratio of 75.00, a price-to-earnings-growth ratio of 2.63 and a beta of 0.79. Boston Scientific has a twelve month low of $53.93 and a twelve month high of $91.93. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average of $86.57 and a 200-day moving average of $80.58.

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

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.