Boston Scientific (NYSE:BSX) was upgraded by equities research analysts at Royal Bank of Canada from an “outperform” rating to a “top pick” rating in a report released on Friday, Marketbeat.com reports.
BSX has been the subject of a number of other reports. SunTrust Banks set a $34.00 target price on Boston Scientific and gave the stock a “buy” rating in a report on Tuesday, October 31st. Zacks Investment Research downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, October 30th. BMO Capital Markets reiterated a “buy” rating and issued a $32.00 target price on shares of Boston Scientific in a report on Tuesday, December 12th. Evercore ISI began coverage on Boston Scientific in a report on Wednesday. They issued an “in-line” rating and a $27.00 target price for the company. Finally, Needham & Company LLC upgraded Boston Scientific from a “buy” rating to a “strong-buy” rating and lifted their target price for the stock from $25.04 to $32.00 in a report on Friday, December 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.94.
Shares of Boston Scientific (NYSE BSX) traded up $0.64 on Friday, hitting $25.97. The stock had a trading volume of 14,260,000 shares, compared to its average volume of 10,590,000. Boston Scientific has a 52 week low of $21.95 and a 52 week high of $29.93. The company has a quick ratio of 0.50, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $35,660.00, a P/E ratio of 42.57, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96.
In other Boston Scientific news, EVP Michael P. Phalen sold 15,500 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $28.42, for a total value of $440,510.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy A. Pratt sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $28.22, for a total value of $282,200.00. Following the completion of the sale, the executive vice president now directly owns 164,681 shares of the company’s stock, valued at approximately $4,647,297.82. The disclosure for this sale can be found here. Insiders sold 82,670 shares of company stock valued at $2,196,008 in the last three months. Insiders own 0.74% of the company’s stock.
A number of institutional investors have recently made changes to their positions in BSX. Valeo Financial Advisors LLC acquired a new stake in Boston Scientific in the third quarter valued at approximately $138,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Boston Scientific during the third quarter valued at approximately $139,000. Acrospire Investment Management LLC boosted its position in shares of Boston Scientific by 157.3% during the second quarter. Acrospire Investment Management LLC now owns 5,071 shares of the medical equipment provider’s stock valued at $141,000 after buying an additional 3,100 shares during the last quarter. San Francisco Sentry Investment Group CA purchased a new position in shares of Boston Scientific during the second quarter valued at approximately $191,000. Finally, Ironwood Investment Counsel LLC purchased a new position in shares of Boston Scientific during the third quarter valued at approximately $204,000. 90.36% of the stock is owned by hedge funds and other institutional investors.
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.
