Boston Scientific (NYSE:BSX) Upgraded to “Strong-Buy” at Erste Group Bank

Erste Group Bank upgraded shares of Boston Scientific (NYSE:BSX) to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Evercore ISI increased their price target on Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Piper Sandler boosted their price objective on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada increased their target price on Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Citigroup upped their price target on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Twenty-three analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $114.52.

Boston Scientific Stock Down 0.4 %

Shares of NYSE BSX opened at $102.87 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $152.19 billion, a PE ratio of 82.30, a P/E/G ratio of 2.79 and a beta of 0.68. The firm has a fifty day moving average of $98.68 and a 200-day moving average of $95.99. Boston Scientific has a 52-week low of $71.88 and a 52-week high of $107.17.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the firm posted $0.56 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis. On average, analysts anticipate that Boston Scientific will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, CFO Daniel J. Brennan sold 15,087 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the transaction, the chief financial officer now owns 241,451 shares of the company’s stock, valued at $25,369,256.57. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 17,314 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the sale, the executive vice president now owns 22,235 shares in the company, valued at $2,269,304.10. The trade was a 43.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 300,497 shares of company stock valued at $31,056,815. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently modified their holdings of the stock. TFC Financial Management Inc. lifted its stake in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares in the last quarter. Colonial Trust Co SC increased its stake in Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 260 shares during the period. Investment Management Corp VA ADV purchased a new stake in Boston Scientific in the 4th quarter worth approximately $25,000. Sunbeam Capital Management LLC acquired a new stake in shares of Boston Scientific during the 4th quarter valued at $26,000. Finally, West Oak Capital LLC purchased a new position in shares of Boston Scientific during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.