Boston Scientific Co. (NYSE:BSX) Given Consensus Rating of “Buy” by Brokerages

Boston Scientific Co. (NYSE:BSX) has been assigned a consensus rating of “Buy” from the twenty-three analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $108.91.

A number of equities research analysts have commented on BSX shares. Morgan Stanley raised their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Wells Fargo & Company increased their price target on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a report on Friday, January 10th. Finally, Royal Bank of Canada increased their target price on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th.

Boston Scientific Price Performance

BSX stock opened at $99.29 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $102.16 and its 200 day simple moving average is $93.04. Boston Scientific has a 12-month low of $66.80 and a 12-month high of $107.17. The firm has a market cap of $146.86 billion, a price-to-earnings ratio of 79.43, a PEG ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS 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%. On average, analysts expect that Boston Scientific will post 2.85 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 67,333 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the completion of the transaction, the chief financial officer now directly owns 225,808 shares of the company’s stock, valued at approximately $23,764,033.92. This represents a 22.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the sale, the executive vice president now owns 28,454 shares in the company, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,302 shares of company stock worth $14,319,269 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently added to or reduced their stakes in the company. TFC Financial Management Inc. boosted its position in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares during the period. Colonial Trust Co SC lifted its stake in shares of Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 260 shares in the last quarter. Investment Management Corp VA ADV bought a new position in Boston Scientific in the 4th quarter worth approximately $25,000. Sunbeam Capital Management LLC purchased a new position in Boston Scientific in the 4th quarter valued at approximately $26,000. Finally, Dunhill Financial LLC raised its holdings in Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares during the period. Hedge funds and other institutional investors 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.