Boston Scientific (NYSE:BSX) Earns Hold Rating from Needham & Company LLC

Boston Scientific (NYSE:BSX)‘s stock had its “hold” rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports.

Several other brokerages have also commented on BSX. Royal Bank of Canada boosted their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen boosted their price target on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 21st. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Canaccord Genuity Group boosted their price target on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Citigroup upped their target price on shares of Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Stock Performance

BSX opened at $90.30 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The firm has a fifty day moving average price of $85.56 and a 200 day moving average price of $79.84. Boston Scientific has a 1 year low of $53.93 and a 1 year high of $91.08. The stock has a market cap of $133.09 billion, a P/E ratio of 74.63, a P/E/G ratio of 2.56 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the business posted $0.50 EPS. The business’s revenue was up 19.3% compared to the same quarter last year. Equities research analysts anticipate that Boston Scientific will post 2.46 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 45.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. The trade was a 9.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock valued at $26,196,718 over the last 90 days. 0.50% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

Hedge funds have recently made changes to their positions in the business. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific during the second quarter worth about $26,000. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific during the third quarter worth approximately $28,000. Dunhill Financial LLC increased its stake in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. Andra AP fonden purchased a new position in Boston Scientific in the second quarter valued at approximately $29,000. Finally, Lynx Investment Advisory purchased a new position in Boston Scientific in the second quarter valued at approximately $30,000. Institutional investors and hedge funds 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.