Boston Scientific’s (BSX) Hold Rating Reiterated at Needham & Company LLC

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

Several other brokerages have also recently issued reports on BSX. Royal Bank of Canada upped their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Bank of America lifted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Sanford C. Bernstein upped their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus raised their price target on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Price Performance

Shares of BSX opened at $84.02 on Thursday. Boston Scientific has a fifty-two week low of $50.26 and a fifty-two week high of $88.79. The firm’s 50 day moving average price is $83.82 and its 200 day moving average price is $78.13. The company has a market cap of $123.27 billion, a P/E ratio of 70.61, a PEG ratio of 2.87 and a beta of 0.80. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the prior year, the firm posted $0.50 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, research analysts forecast that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific 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 sale, the executive vice president now directly owns 160,467 shares of the company’s stock, 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. Insiders sold a total of 309,270 shares of company stock valued at $26,196,718 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Institutional investors have recently made changes to their positions in the stock. Eagle Bay Advisors LLC lifted its holdings in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 309 shares in the last quarter. First Foundation Advisors acquired a new stake in Boston Scientific in the 1st quarter valued at $25,000. Triad Wealth Partners LLC acquired a new stake in Boston Scientific in the 2nd quarter valued at $26,000. Values First Advisors Inc. purchased a new position in Boston Scientific in the 3rd quarter valued at about $28,000. Finally, Andra AP fonden purchased a new position in Boston Scientific in the 2nd quarter valued at about $29,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.