Boston Scientific Co. (NYSE:BSX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Boston Scientific Co. (NYSE:BSX) have been given a consensus recommendation of “Moderate Buy” by the twenty analysts that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $87.10.

BSX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. BTIG Research increased their target price on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 15th. JPMorgan Chase & Co. raised their price target on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Evercore ISI upped their price objective on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Needham & Company LLC raised their target price on Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th.

Boston Scientific Stock Up 0.9 %

Boston Scientific stock opened at $84.55 on Friday. The firm has a market capitalization of $124.04 billion, a P/E ratio of 71.05, a P/E/G ratio of 2.78 and a beta of 0.80. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $84.89. The stock’s fifty day simple moving average is $80.07 and its 200-day simple moving average is $75.80.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter last year, the company earned $0.53 EPS. Boston Scientific’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts expect that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 20,949 shares of company stock worth $1,673,685 over the last ninety days. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

A number of large investors have recently bought and sold shares of BSX. Eagle Bay Advisors LLC lifted its holdings in shares of Boston Scientific by 542.1% in the 1st 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 last quarter. First Foundation Advisors acquired a new stake in shares of Boston Scientific in the first quarter valued at approximately $25,000. Triad Wealth Partners LLC bought a new stake in shares of Boston Scientific during the second quarter valued at approximately $26,000. Andra AP fonden acquired a new position in Boston Scientific during the 2nd quarter worth $29,000. Finally, RiverPark Advisors LLC bought a new position in shares of Boston Scientific in the first quarter worth $30,000. 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.