Boston Scientific (NYSE:BSX) Raised to Buy at StockNews.com

Boston Scientific (NYSE:BSX) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other brokerages also recently weighed in on BSX. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Friday, January 10th. Stifel Nicolaus increased their price objective on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Citigroup increased their price objective on Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Thursday, February 6th. Finally, Argus set a $130.00 target price on Boston Scientific in a report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $108.91.

Boston Scientific Trading Up 3.2 %

Shares of NYSE:BSX opened at $104.02 on Friday. Boston Scientific has a 12-month low of $65.52 and a 12-month high of $107.17. The company has a market capitalization of $153.51 billion, a PE ratio of 83.21, a PEG ratio of 2.79 and a beta of 0.80. The business has a 50 day moving average of $99.28 and a two-hundred day moving average of $90.32. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, analysts forecast that Boston Scientific will post 2.85 EPS for the current year.

Insider Activity

In related news, EVP John Bradley Sorenson sold 1,201 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the transaction, the executive vice president now directly owns 25,443 shares in the company, valued at approximately $2,704,845.33. This represents a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares in the company, valued at $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,305 shares of company stock worth $14,954,985 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Boston Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Focus Financial Network Inc. raised its position in Boston Scientific by 2.6% in the third quarter. Focus Financial Network Inc. now owns 16,506 shares of the medical equipment provider’s stock valued at $1,383,000 after purchasing an additional 420 shares during the period. Lebenthal Global Advisors LLC lifted its position in shares of Boston Scientific by 8.7% during the third quarter. Lebenthal Global Advisors LLC now owns 20,483 shares of the medical equipment provider’s stock worth $1,716,000 after purchasing an additional 1,645 shares in the last quarter. Shepherd Financial Partners LLC boosted its stake in shares of Boston Scientific by 1.3% in the third quarter. Shepherd Financial Partners LLC now owns 22,474 shares of the medical equipment provider’s stock valued at $1,883,000 after purchasing an additional 296 shares during the period. Farther Finance Advisors LLC grew its holdings in Boston Scientific by 5.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 11,323 shares of the medical equipment provider’s stock worth $949,000 after acquiring an additional 580 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in Boston Scientific during the 3rd quarter worth $68,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.