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

Shares of Boston Scientific Co. (NYSE:BSX) have received an average recommendation of “Moderate Buy” from the twenty-three research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $95.96.

Several research analysts have commented on the stock. Evercore ISI boosted their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Citigroup increased their price objective on Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. upped their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday. Truist Financial increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Stifel Nicolaus lifted their price target on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th.

Insiders Place Their Bets

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. The trade was a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 328,157 shares of company stock valued at $27,957,676 in the last quarter. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors have recently added to or reduced their stakes in the company. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific in the third quarter worth $28,000. Dunhill Financial LLC increased its holdings in Boston Scientific by 86.4% in the 3rd 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 in the last quarter. Andra AP fonden purchased a new position in Boston Scientific in the second quarter valued at about $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Boston Scientific in the third quarter valued at about $30,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Boston Scientific during the third quarter worth about $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 2.7 %

Shares of BSX opened at $88.03 on Thursday. The stock has a 50 day moving average price of $88.22 and a 200 day moving average price of $82.12. The stock has a market capitalization of $129.74 billion, a price-to-earnings ratio of 72.75, a PEG ratio of 2.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific has a one year low of $54.95 and a one year high of $91.93.

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. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the prior year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. Equities research analysts forecast that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

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.