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

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

Several other brokerages have also recently weighed in on BSX. Royal Bank of Canada raised their price objective on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. BTIG Research raised their price objective on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price objective on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. Finally, Truist Financial lifted their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Stock Performance

BSX stock opened at $83.62 on Thursday. The business’s fifty day moving average is $84.00 and its 200-day moving average is $78.29. 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 $123.14 billion, a P/E ratio of 69.11, a price-to-earnings-growth ratio of 2.47 and a beta of 0.80. Boston Scientific has a twelve month low of $50.84 and a twelve month high of $88.79.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.41% and a net margin of 11.26%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. Equities research analysts forecast that Boston Scientific will post 2.46 EPS for the current year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the transaction, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This trade represents 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 sold 309,270 shares of company stock valued at $26,196,718. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Several institutional investors and hedge funds have recently made changes to their positions in BSX. BI Asset Management Fondsmaeglerselskab A S raised its position in Boston Scientific by 225.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after purchasing an additional 73,219 shares during the period. BDF Gestion purchased a new position in Boston Scientific in the 2nd quarter worth $3,570,000. LRI Investments LLC bought a new stake in Boston Scientific in the 1st quarter worth $139,000. Cetera Advisor Networks LLC increased its position in shares of Boston Scientific by 11.8% in the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after acquiring an additional 21,252 shares during the period. Finally, Brookstone Capital Management raised its stake in shares of Boston Scientific by 389.1% during the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after acquiring an additional 55,645 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

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.