Boston Scientific (NYSE:BSX) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Boston Scientific (NYSE:BSX) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Other research analysts also recently issued reports about the company. UBS Group raised their price target on Boston Scientific from $74.00 to $90.00 and gave the company a buy rating in a research note on Thursday, April 25th. Raymond James raised their price target on Boston Scientific from $73.00 to $85.00 and gave the company a strong-buy rating in a research note on Thursday, April 25th. Argus raised their price target on Boston Scientific from $80.00 to $95.00 and gave the company a buy rating in a research note on Tuesday, May 28th. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $72.00 to $82.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group assumed 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. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boston Scientific presently has an average rating of Moderate Buy and a consensus price target of $77.41.

Boston Scientific Stock Up 0.2 %

Shares of Boston Scientific stock opened at $76.55 on Tuesday. The business’s 50 day simple moving average is $75.01 and its 200 day simple moving average is $67.81. Boston Scientific has a 52-week low of $48.35 and a 52-week high of $77.99. The firm has a market cap of $112.30 billion, a PE ratio of 64.33, a P/E/G ratio of 2.65 and a beta of 0.78. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 predict that Boston Scientific will post 2.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 9,818 shares of Boston Scientific stock in a transaction on Friday, April 26th. The stock was sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Charles J. Dockendorff sold 3,946 shares of the business’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $73.29, for a total value of $719,561.22. Following the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. Insiders sold 72,259 shares of company stock valued at $5,344,014 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Boston Scientific

Institutional investors and hedge funds have recently bought and sold shares of the company. Louisiana State Employees Retirement System acquired a new position in Boston Scientific in the 4th quarter worth about $5,116,000. Glenmede Trust Co. NA increased its holdings in Boston Scientific by 12.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after purchasing an additional 1,123 shares in the last quarter. Sierra Summit Advisors LLC acquired a new position in Boston Scientific in the 4th quarter worth about $8,038,000. TD Asset Management Inc increased its holdings in Boston Scientific by 10.7% in the 4th quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock worth $93,417,000 after purchasing an additional 155,565 shares in the last quarter. Finally, HealthInvest Partners AB acquired a new position in Boston Scientific in the 4th quarter worth about $3,746,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.