Boston Scientific Co. (NYSE:BSX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Boston Scientific Co. (NYSE:BSX) has been assigned an average rating of “Moderate Buy” from the twenty-two ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, nineteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $76.70.

A number of analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Boston Scientific from $85.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $82.00 target price on shares of Boston Scientific in a research report on Tuesday, June 18th. Wells Fargo & Company upped their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Barclays boosted their price objective on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Mizuho increased their target price on shares of Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th.

Boston Scientific Trading Down 0.5 %

Shares of BSX opened at $77.10 on Thursday. The stock has a fifty day moving average of $74.27 and a two-hundred day moving average of $67.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. Boston Scientific has a fifty-two week low of $48.35 and a fifty-two week high of $77.99. The company has a market capitalization of $113.11 billion, a PE ratio of 64.79, a price-to-earnings-growth ratio of 2.67 and a beta of 0.81.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. As a group, analysts forecast that Boston Scientific will post 2.32 EPS for the current year.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP John Bradley Sorenson sold 17,587 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles J. Dockendorff sold 3,946 shares of Boston Scientific stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,627 shares of company stock worth $5,937,353. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of Boston Scientific

A number of hedge funds have recently bought and sold shares of the company. First Foundation Advisors purchased a new position in Boston Scientific in the first quarter worth about $25,000. Eagle Bay Advisors LLC boosted its holdings in Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares in the last quarter. RiverPark Advisors LLC purchased a new stake in Boston Scientific during the 1st quarter worth approximately $30,000. Northwest Investment Counselors LLC purchased a new position in Boston Scientific in the 1st quarter worth $31,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Boston Scientific during the first quarter worth about $32,000. 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.