Boston Scientific (NYSE:BSX) Stock Rating Upgraded by Deutsche Bank Aktiengesellschaft

Boston Scientific (NYSE:BSX) was upgraded by research analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has a $108.00 target price on the medical equipment provider’s stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 13.52% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Morgan Stanley increased their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. TD Cowen increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Mizuho upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Truist Financial upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $97.26.

Boston Scientific Trading Down 0.8 %

Shares of Boston Scientific stock opened at $95.14 on Friday. The company has a market capitalization of $140.22 billion, a P/E ratio of 78.63, a P/E/G ratio of 2.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The company has a fifty day moving average of $89.96 and a 200 day moving average of $83.84. Boston Scientific has a fifty-two week low of $59.39 and a fifty-two week high of $97.13.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. Boston Scientific’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. On average, sell-side analysts anticipate that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the transaction, the executive vice president now directly owns 978 shares of the company’s stock, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,989 shares of company stock valued at $2,702,261. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CRA Financial Services LLC raised its holdings in shares of Boston Scientific by 4.3% during the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 117 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 119 shares in the last quarter. Adero Partners LLC increased its holdings in Boston Scientific by 3.6% in the third quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock valued at $303,000 after buying an additional 127 shares in the last quarter. Ashton Thomas Securities LLC increased its holdings in Boston Scientific by 1.3% in the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after buying an additional 129 shares in the last quarter. Finally, Jacobsen Capital Management increased its holdings in Boston Scientific by 4.9% in the third quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider’s stock valued at $236,000 after buying an additional 133 shares in 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.