Boston Scientific (NYSE:BSX) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Boston Scientific (NYSE:BSX) from a hold rating to a buy rating in a research note published on Thursday morning.

A number of other equities analysts also recently commented on BSX. TD Cowen lifted their target price on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a buy rating in a research note on Tuesday, July 16th. Argus upped their price objective on Boston Scientific from $80.00 to $95.00 and gave the company a buy rating in a report on Tuesday, May 28th. The Goldman Sachs Group initiated coverage on Boston Scientific in a research note on Thursday, May 30th. They set a buy rating and a $90.00 target price for the company. Robert W. Baird upped their price target on Boston Scientific from $90.00 to $91.00 and gave the company an outperform rating in a research note on Thursday, July 25th. Finally, Needham & Company LLC raised their price objective on Boston Scientific from $82.00 to $86.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $85.38.

Boston Scientific Price Performance

Boston Scientific stock opened at $81.60 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The company’s fifty day moving average price is $77.40 and its 200 day moving average price is $73.53. The stock has a market capitalization of $119.72 billion, a P/E ratio of 68.57, a P/E/G ratio of 2.71 and a beta of 0.79. Boston Scientific has a 1 year low of $48.35 and a 1 year high of $82.47.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, equities research analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold 20,949 shares of company stock worth $1,627,877 in the last quarter. 0.50% of the stock is owned by insiders.

Institutional Trading of Boston Scientific

Hedge funds have recently added to or reduced their stakes in the stock. Eagle Bay Advisors LLC grew its position in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. First Foundation Advisors purchased a new stake in shares of Boston Scientific in the first quarter valued at about $25,000. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific during the second quarter worth about $26,000. Andra AP fonden purchased a new position in Boston Scientific during the second quarter worth about $29,000. Finally, RiverPark Advisors LLC acquired a new position in Boston Scientific during the 1st quarter worth approximately $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

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.