Boston Scientific Co. (NYSE:BSX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Boston Scientific Co. (NYSE:BSX) has earned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $76.70.

Several analysts have issued reports on BSX shares. Barclays increased their price objective on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Royal Bank of Canada boosted their price objective on shares of Boston Scientific from $78.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. TD Cowen raised their target price on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. The Goldman Sachs Group started 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. Finally, Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of Boston Scientific in a research note on Tuesday, June 18th.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 14,011 shares of Boston Scientific stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the sale, the executive vice president now owns 20,197 shares in the company, valued at $1,521,641.98. The disclosure for this sale can be found here. Insiders sold a total of 81,627 shares of company stock worth $5,937,353 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

Several large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Boston Scientific in the fourth quarter worth about $930,626,000. Putnam Investments LLC boosted its holdings in shares of Boston Scientific by 110.5% in the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after acquiring an additional 6,859,280 shares in the last quarter. Capital World Investors increased its stake in shares of Boston Scientific by 236.1% during the fourth quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock valued at $544,560,000 after acquiring an additional 6,617,360 shares during the period. Capital Research Global Investors bought a new stake in Boston Scientific during the first quarter worth approximately $182,897,000. Finally, American Century Companies Inc. lifted its position in Boston Scientific by 391.6% in the third quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock worth $172,752,000 after purchasing an additional 2,606,253 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

NYSE:BSX opened at $77.10 on Thursday. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $77.99. The firm has a market capitalization of $113.11 billion, a price-to-earnings ratio of 64.79, a PEG ratio of 2.67 and a beta of 0.81. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The firm’s fifty day simple moving average is $74.27 and its 200 day simple moving average is $67.23.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. As a group, equities research analysts expect that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

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.