Boston Scientific (NYSE:BSX) Rating Increased to Buy at StockNews.com

Boston Scientific (NYSE:BSX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

BSX has been the subject of several other reports. Barclays boosted their price target on Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. boosted their price target on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Evercore ISI boosted their price target on Boston Scientific from $72.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Royal Bank of Canada boosted their price target on Boston Scientific from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $76.70.

Boston Scientific Trading Up 0.9 %

Shares of BSX stock opened at $77.71 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The company has a market cap of $114.01 billion, a price-to-earnings ratio of 65.30, a PEG ratio of 2.72 and a beta of 0.81. The stock has a 50 day simple moving average of $73.90 and a 200-day simple moving average of $66.91. Boston Scientific has a 1-year low of $48.35 and a 1-year high of $77.81.

Boston Scientific (NYSE:BSX) last issued 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 firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.68 billion. On average, equities research analysts expect that Boston Scientific will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the transaction, the executive vice president now owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the transaction, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the transaction, the executive vice president now owns 20,197 shares in the company, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,627 shares of company stock valued at $5,937,353. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Eagle Bay Advisors LLC raised its holdings in shares of 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. First Foundation Advisors purchased a new stake in shares of Boston Scientific in the first quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Boston Scientific in the fourth quarter valued at about $28,000. RiverPark Advisors LLC purchased a new position in Boston Scientific during the first quarter worth about $30,000. Finally, Northwest Investment Counselors LLC purchased a new position in Boston Scientific during the first quarter worth about $31,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

About Boston Scientific

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.