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

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

A number of other equities analysts have also recently issued reports on the company. Mizuho raised their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Thursday, October 31st. Morgan Stanley upped their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Truist Financial lifted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Stock Performance

Boston Scientific stock opened at $86.42 on Monday. Boston Scientific has a 1 year low of $50.84 and a 1 year high of $88.79. The company’s 50-day moving average is $84.35 and its two-hundred day moving average is $78.74. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The company has a market cap of $127.26 billion, a PE ratio of 71.42, a PEG ratio of 2.46 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.41%. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 EPS. Equities analysts anticipate that Boston Scientific will post 2.46 earnings per share for the current year.

Insider Activity at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares in the company, valued at $2,913,967.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 309,270 shares of company stock valued at $26,196,718. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of hedge funds have recently made changes to their positions in BSX. Capital World Investors boosted its holdings in shares of Boston Scientific by 69.9% during the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after buying an additional 6,588,256 shares during the period. Marshall Wace LLP boosted its holdings in shares of Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after acquiring an additional 3,608,158 shares during the period. Capital Research Global Investors bought a new stake in shares of Boston Scientific during the first quarter worth approximately $182,897,000. AustralianSuper Pty Ltd grew its position in shares of Boston Scientific by 4,292.3% in the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after purchasing an additional 2,615,903 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Boston Scientific by 1.6% during the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after purchasing an additional 1,988,082 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.