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

Shares of Boston Scientific Co. (NYSE:BSX) have earned an average recommendation of “Buy” from the twenty-three brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, twenty-one have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $108.91.

A number of equities analysts have weighed in on the company. Piper Sandler boosted their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Morgan Stanley lifted their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research note on Friday, January 10th. Finally, Argus set a $130.00 price target on Boston Scientific in a report on Tuesday, February 18th.

Insider Activity

In related news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the transaction, the executive vice president now owns 35,319 shares of the company’s stock, valued at $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Monday, February 3rd. The shares were 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 directly owns 5,502 shares in the company, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,322 shares of company stock worth $14,321,068 in the last three months. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in BSX. Farther Finance Advisors LLC boosted its holdings in shares of Boston Scientific by 5.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 11,323 shares of the medical equipment provider’s stock worth $949,000 after buying an additional 580 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of Boston Scientific during the third quarter valued at about $68,000. Optas LLC lifted its holdings 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 in the last quarter. 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 valued at $3,844,000 after acquiring an additional 214 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Boston Scientific by 18.1% during the 3rd quarter. Van ECK Associates Corp now owns 57,894 shares of the medical equipment provider’s stock worth $5,063,000 after acquiring an additional 8,882 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Up 1.0 %

BSX stock opened at $104.82 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The stock has a market capitalization of $154.69 billion, a P/E ratio of 83.86, a P/E/G ratio of 2.79 and a beta of 0.80. The business has a 50-day moving average of $99.57 and a 200-day moving average of $90.61. Boston Scientific has a fifty-two week low of $65.52 and a fifty-two week high of $107.17.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that Boston Scientific will post 2.85 earnings per share for the current fiscal year.

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.