Boston Scientific’s (BSX) “Hold” Rating Reaffirmed at Needham & Company LLC

Boston Scientific (NYSE:BSX)‘s stock had its “hold” rating reiterated by Needham & Company LLC in a report released on Wednesday,Benzinga reports.

A number of other equities analysts have also weighed in on BSX. BTIG Research boosted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Royal Bank of Canada boosted their target price on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Sanford C. Bernstein increased their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Truist Financial boosted their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, TD Cowen raised their target price on Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Trading Up 0.6 %

BSX stock opened at $90.75 on Wednesday. The business’s 50-day moving average is $86.57 and its 200 day moving average is $80.58. Boston Scientific has a 12-month low of $53.93 and a 12-month high of $91.93. The stock has a market cap of $133.75 billion, a price-to-earnings ratio of 75.00, a PEG ratio of 2.63 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 earnings per share. On average, sell-side analysts anticipate that Boston Scientific will post 2.46 EPS for the current fiscal year.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The trade was a 15.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 328,157 shares of company stock valued at $27,894,270. Insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Marshall Wace LLP boosted its stake in shares of Boston Scientific by 115.9% during the 2nd 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 in the last quarter. AustralianSuper Pty Ltd grew its holdings in Boston Scientific by 4,292.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after buying an additional 2,615,903 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after acquiring an additional 1,824,405 shares in the last quarter. Swedbank AB acquired a new stake in shares of Boston Scientific during the 1st quarter worth about $100,113,000. Finally, State Street Corp boosted its position in Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after acquiring an additional 1,389,172 shares during the last quarter. Hedge funds and other institutional investors 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.