Needham & Company LLC Reaffirms Hold Rating for Boston Scientific (NYSE:BSX)

Boston Scientific (NYSE:BSX)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports.

A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada increased their price target on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Mizuho boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Finally, BTIG Research boosted their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One investment analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of “Buy” and a consensus target price of $106.00.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $105.33 on Thursday. 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 stock has a market capitalization of $155.24 billion, a price-to-earnings ratio of 87.05, a PEG ratio of 2.68 and a beta of 0.80. The firm’s 50 day simple moving average is $94.58 and its 200-day simple moving average is $86.96. Boston Scientific has a 12 month low of $64.39 and a 12 month high of $107.17.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. Analysts expect that Boston Scientific will post 2.46 EPS for the current year.

Insider Buying and Selling

In related news, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the sale, the director now directly owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. The trade was a 75.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,302 shares of company stock worth $4,464,725. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC raised its position in Boston Scientific by 14.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 30,271 shares of the medical equipment provider’s stock valued at $2,704,000 after purchasing an additional 3,879 shares during the period. Wealth High Governance Capital Ltda acquired a new stake in shares of Boston Scientific in the fourth quarter valued at $4,444,000. Fairway Wealth LLC purchased a new stake in shares of Boston Scientific in the 4th quarter valued at $36,000. Citizens Financial Group Inc. RI lifted its stake in Boston Scientific by 78.0% during the 4th quarter. Citizens Financial Group Inc. RI now owns 8,970 shares of the medical equipment provider’s stock worth $801,000 after acquiring an additional 3,931 shares in the last quarter. Finally, Sage Mountain Advisors LLC grew its position in Boston Scientific by 12.5% in the 4th quarter. Sage Mountain Advisors LLC now owns 7,417 shares of the medical equipment provider’s stock valued at $663,000 after acquiring an additional 822 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.