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

Boston Scientific Co. (NYSE:BSX) has been given a consensus rating of “Moderate Buy” by the twenty-three analysts that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $93.39.

A number of analysts have recently issued reports on the stock. Wells Fargo & Company raised their price target on shares of Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Mizuho lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Truist Financial boosted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Raymond James raised their price target on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Sanford C. Bernstein upped their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th.

Boston Scientific Price Performance

Shares of BSX opened at $90.00 on Friday. Boston Scientific has a twelve month low of $53.93 and a twelve month high of $91.93. The company has a market capitalization of $132.64 billion, a P/E ratio of 74.38, a price-to-earnings-growth ratio of 2.69 and a beta of 0.79. The firm has a 50 day moving average of $85.99 and a 200 day moving average of $80.16. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted 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 business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 EPS. As a group, equities research analysts anticipate that Boston Scientific will post 2.46 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. The trade was a 15.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 314,147 shares of company stock valued at $26,643,598. 0.50% of the stock is owned by company insiders.

Institutional Trading of Boston Scientific

Several hedge funds have recently modified their holdings of BSX. Triad Wealth Partners LLC bought a new stake in Boston Scientific in the second quarter worth $26,000. Values First Advisors Inc. bought a new stake in shares of Boston Scientific in the 3rd quarter worth about $28,000. Dunhill Financial LLC increased its holdings in shares of Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares during the last quarter. Andra AP fonden purchased a new stake in shares of Boston Scientific during the 2nd quarter valued at about $29,000. Finally, Lynx Investment Advisory bought a new position in shares of Boston Scientific in the 2nd quarter valued at about $30,000. 89.07% of the stock is 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.