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

Shares of Boston Scientific Co. (NYSE:BSX) have been assigned an average recommendation of “Moderate Buy” from the twenty-three research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $93.39.

Several brokerages recently issued reports on BSX. Mizuho raised their price target on 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 Boston Scientific from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. TD Cowen raised their price target on Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Morgan Stanley raised their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th.

Boston Scientific Stock Performance

NYSE:BSX opened at $84.56 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The company has a market cap of $124.06 billion, a P/E ratio of 71.06, a P/E/G ratio of 2.87 and a beta of 0.80. Boston Scientific has a fifty-two week low of $49.56 and a fifty-two week high of $88.79. The firm’s 50 day moving average is $83.71 and its two-hundred day moving average is $78.09.

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, topping analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. Boston Scientific’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. Analysts expect that Boston Scientific will post 2.4 EPS for the current year.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at approximately $2,978,734.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 316,253 shares of company stock worth $26,714,298. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

A number of hedge funds have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. grew its holdings in shares of Boston Scientific by 23.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,698,021 shares of the medical equipment provider’s stock worth $142,294,000 after acquiring an additional 321,574 shares during the last quarter. Angeles Wealth Management LLC acquired a new position in shares of Boston Scientific in the 3rd quarter worth $247,000. Van ECK Associates Corp boosted its position in shares of Boston Scientific by 18.1% in the third quarter. Van ECK Associates Corp now owns 57,894 shares of the medical equipment provider’s stock worth $5,063,000 after buying an additional 8,882 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Boston Scientific by 0.5% in the third quarter. Harbor Capital Advisors Inc. now owns 45,870 shares of the medical equipment provider’s stock worth $3,844,000 after buying an additional 214 shares during the period. Finally, Optas LLC boosted its position in shares of Boston Scientific by 23.3% in the third quarter. Optas LLC now owns 3,551 shares of the medical equipment provider’s stock worth $298,000 after buying an additional 670 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.