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

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

BSX has been the topic of a number of other research reports. Needham & Company LLC increased their price target on shares of Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. BTIG Research upped their price target on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 price objective on shares of Boston Scientific in a report on Thursday, July 25th. Finally, Robert W. Baird upped their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.65.

Boston Scientific Price Performance

BSX stock opened at $84.00 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The firm has a 50 day moving average price of $78.84 and a 200-day moving average price of $74.84. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $84.89. The firm has a market capitalization of $123.24 billion, a price-to-earnings ratio of 70.59, a PEG ratio of 2.75 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities research analysts forecast that Boston Scientific will post 2.4 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 20,949 shares of company stock valued at $1,627,877 over the last quarter. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

Institutional investors and hedge funds have recently modified their holdings of the stock. Precision Wealth Strategies LLC bought a new stake in shares of Boston Scientific in the fourth quarter worth about $956,000. Aveo Capital Partners LLC raised its holdings in shares of Boston Scientific by 1.3% during the 4th quarter. Aveo Capital Partners LLC now owns 12,841 shares of the medical equipment provider’s stock worth $742,000 after acquiring an additional 171 shares in the last quarter. TrinityPoint Wealth LLC boosted its position in shares of Boston Scientific by 5.9% during the 4th quarter. TrinityPoint Wealth LLC now owns 12,546 shares of the medical equipment provider’s stock valued at $725,000 after acquiring an additional 697 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of Boston Scientific by 6.0% in the fourth quarter. D.A. Davidson & CO. now owns 9,380 shares of the medical equipment provider’s stock valued at $542,000 after purchasing an additional 529 shares in the last quarter. Finally, United Services Automobile Association increased its position in Boston Scientific by 8.0% in the fourth quarter. United Services Automobile Association now owns 43,952 shares of the medical equipment provider’s stock worth $2,541,000 after purchasing an additional 3,253 shares during the last quarter. Institutional investors 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.