Boston Scientific Corporation (NYSE:BSX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Boston Scientific Corporation (NYSE:BSX) have been assigned an average recommendation of “Moderate Buy” from the twenty-two analysts that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $123.8947.

Several equities research analysts have weighed in on the stock. UBS Group reaffirmed a “buy” rating on shares of Boston Scientific in a research note on Wednesday, December 17th. Wells Fargo & Company raised their target price on Boston Scientific from $124.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Royal Bank Of Canada boosted their target price on Boston Scientific from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Morgan Stanley increased their price target on Boston Scientific from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Finally, Leerink Partners boosted their price objective on Boston Scientific from $127.00 to $128.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares in the company, valued at approximately $17,739,678.74. The trade was a 21.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the completion of the transaction, the executive vice president directly owned 23,600 shares in the company, valued at $2,396,580. This trade represents a 42.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 93,095 shares of company stock valued at $9,305,450. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Boston Scientific in the second quarter worth approximately $2,089,937,000. Edgewood Management LLC bought a new stake in Boston Scientific during the second quarter worth $746,655,000. Parnassus Investments LLC raised its position in Boston Scientific by 42,978.9% in the 3rd quarter. Parnassus Investments LLC now owns 6,884,440 shares of the medical equipment provider’s stock valued at $672,128,000 after buying an additional 6,868,459 shares during the last quarter. Egerton Capital UK LLP raised its position in Boston Scientific by 223.7% in the 3rd quarter. Egerton Capital UK LLP now owns 5,312,504 shares of the medical equipment provider’s stock valued at $518,660,000 after buying an additional 3,671,548 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in Boston Scientific by 14,391.8% during the 2nd quarter. Bessemer Group Inc. now owns 2,919,801 shares of the medical equipment provider’s stock valued at $313,618,000 after acquiring an additional 2,899,653 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Price Performance

Boston Scientific stock opened at $91.32 on Friday. The stock has a market capitalization of $135.38 billion, a price-to-earnings ratio of 48.83, a PEG ratio of 1.62 and a beta of 0.67. Boston Scientific has a 52-week low of $85.98 and a 52-week high of $109.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.51. The stock’s 50 day moving average price is $95.90 and its two-hundred day moving average price is $99.95.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.97 billion. Boston Scientific had a net margin of 14.43% and a return on equity of 19.46%. Boston Scientific’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 EPS. On average, equities analysts predict that Boston Scientific will post 2.85 earnings per share for the current year.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.