Boston Scientific (NYSE:BSX) Rating Lowered to Hold at StockNews.com

Boston Scientific (NYSE:BSX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

BSX has been the topic of several other research reports. The Goldman Sachs Group began coverage on Boston Scientific in a research note on Thursday, May 30th. They issued a “buy” rating and a $90.00 price target on the stock. Royal Bank of Canada lifted their price objective on Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. TD Cowen lifted their price objective on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Argus lifted their price objective on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Wells Fargo & Company lifted their price objective on Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.41.

Boston Scientific Price Performance

Shares of BSX stock opened at $76.11 on Tuesday. The stock’s fifty day simple moving average is $75.16 and its 200 day simple moving average is $67.96. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The firm has a market cap of $111.66 billion, a price-to-earnings ratio of 63.96, a P/E/G ratio of 2.65 and a beta of 0.78. Boston Scientific has a one year low of $48.35 and a one year high of $77.99.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. On average, analysts expect that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles J. Dockendorff sold 3,946 shares of Boston Scientific stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the transaction, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at $3,316,788.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Charles J. Dockendorff sold 3,946 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The disclosure for this sale can be found here. Insiders sold a total of 72,259 shares of company stock valued at $5,344,014 over the last three months. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. grew its stake in Boston Scientific by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after acquiring an additional 148 shares during the period. Transcend Capital Advisors LLC boosted its position in shares of Boston Scientific by 2.2% during the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after buying an additional 148 shares during the period. KCM Investment Advisors LLC boosted its position in shares of Boston Scientific by 1.7% during the first quarter. KCM Investment Advisors LLC now owns 9,225 shares of the medical equipment provider’s stock worth $632,000 after buying an additional 150 shares during the period. Hazlett Burt & Watson Inc. boosted its position in shares of Boston Scientific by 24.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 826 shares of the medical equipment provider’s stock worth $57,000 after buying an additional 160 shares during the period. Finally, BSW Wealth Partners boosted its position in shares of Boston Scientific by 2.3% during the fourth quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock worth $428,000 after buying an additional 165 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

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.