Boston Scientific’s (BSX) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Boston Scientific (NYSE:BSX) in a research report sent to investors on Wednesday morning,Benzinga reports.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company upped their price target on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Sanford C. Bernstein boosted their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group lifted their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a report on Monday, October 21st. BTIG Research upped their price target on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Trading Down 0.1 %

Shares of BSX opened at $90.66 on Wednesday. Boston Scientific has a 12-month low of $53.93 and a 12-month high of $91.93. The firm has a market capitalization of $133.62 billion, a P/E ratio of 74.93, a P/E/G ratio of 2.67 and a beta of 0.79. The firm has a 50-day moving average price of $86.70 and a 200 day moving average price of $80.71. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

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

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This represents a 16.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares in the company, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 328,157 shares of company stock valued at $27,894,270. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Several hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. grew its position in Boston Scientific by 45.6% in the 1st quarter. Advisors Asset Management Inc. now owns 7,544 shares of the medical equipment provider’s stock valued at $517,000 after buying an additional 2,361 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in Boston Scientific during the first quarter worth about $3,021,000. B. Riley Wealth Advisors Inc. lifted its position in Boston Scientific by 52.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 16,270 shares of the medical equipment provider’s stock valued at $1,114,000 after purchasing an additional 5,564 shares during the period. New Covenant Trust Company N.A. purchased a new stake in Boston Scientific in the 1st quarter valued at approximately $37,000. Finally, Swedbank AB acquired a new position in Boston Scientific during the 1st quarter worth approximately $100,113,000. Institutional investors and hedge funds 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.