StockNews.com Downgrades Boston Scientific (NYSE:BSX) to Hold

Boston Scientific (NYSE:BSX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other equities analysts have also weighed in on the company. TD Cowen increased their price objective on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Citigroup increased their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. UBS Group upped their price target on shares of Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Barclays lifted their price objective on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.27.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $76.41 on Tuesday. The firm has a market capitalization of $112.10 billion, a P/E ratio of 64.21, a price-to-earnings-growth ratio of 2.65 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $74.84 and its 200 day simple moving average is $67.67. Boston Scientific has a 12 month low of $48.35 and a 12 month high of $77.99.

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

Insider Transactions at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 9,818 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $73.29, for a total transaction of $719,561.22. Following the sale, the director now owns 41,374 shares in the company, valued at $3,032,300.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Edward J. Ludwig sold 9,818 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $73.29, for a total transaction of $719,561.22. Following the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the transaction, the executive vice president now owns 45,628 shares in the company, valued at approximately $3,437,157.24. The disclosure for this sale can be found here. Insiders have sold 65,276 shares of company stock valued at $4,804,228 in the last quarter. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Large investors have recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC grew its stake 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 purchasing an additional 309 shares during the period. First Foundation Advisors purchased a new stake in shares of Boston Scientific in the 1st quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new position in shares of Boston Scientific in the 4th quarter worth about $28,000. RiverPark Advisors LLC purchased a new position in Boston Scientific during the 1st quarter valued at about $30,000. Finally, Northwest Investment Counselors LLC bought a new stake in Boston Scientific during the first quarter worth about $31,000. 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.