Boston Scientific (NYSE:BSX) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Boston Scientific (NYSE:BSX) in a report released on Thursday morning, Benzinga reports.

Several other equities analysts have also recently commented on BSX. Citigroup lifted their target price on shares of Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Royal Bank of Canada lifted their price target on Boston Scientific from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. BTIG Research upped their price objective on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, TD Cowen increased their price target on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Stock Down 0.4 %

BSX stock opened at $84.73 on Thursday. The stock’s 50 day moving average is $83.47 and its 200-day moving average is $77.86. Boston Scientific has a twelve month low of $49.15 and a twelve month high of $88.79. The firm has a market capitalization of $124.31 billion, a PE ratio of 71.20, a P/E/G 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 posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 EPS. Sell-side analysts expect that Boston Scientific will post 2.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the sale, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 316,253 shares of company stock worth $26,714,298 in the last quarter. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BSX. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Boston Scientific by 225.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock valued at $7,237,000 after acquiring an additional 73,219 shares during the last quarter. BDF Gestion bought a new stake in Boston Scientific during the second quarter valued at approximately $3,570,000. LRI Investments LLC purchased a new position in Boston Scientific in the 1st quarter worth approximately $139,000. Cetera Advisor Networks LLC increased its holdings in shares of Boston Scientific by 11.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock worth $13,796,000 after buying an additional 21,252 shares during the last quarter. Finally, Brookstone Capital Management raised its position in shares of Boston Scientific by 389.1% during the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after buying an additional 55,645 shares in the last quarter. 89.07% of the stock is currently 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.