Boston Scientific (NYSE:BSX) Rating Increased to Buy at StockNews.com

Boston Scientific (NYSE:BSXGet Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Several other research analysts also recently commented on the stock. BTIG Research boosted their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Evercore ISI boosted their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada boosted their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $97.26.

Get Our Latest Stock Report on Boston Scientific

Boston Scientific Price Performance

BSX stock opened at $102.97 on Wednesday. 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 has a 12 month low of $62.63 and a 12 month high of $104.25. The firm has a market cap of $151.75 billion, a P/E ratio of 85.10, a P/E/G ratio of 2.63 and a beta of 0.80. The company’s 50-day moving average price is $92.99 and its two-hundred day moving average price is $85.93.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the sale, the executive vice president now owns 35,319 shares of the company’s stock, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,989 shares of company stock worth $2,702,261. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Several large investors have recently modified their holdings of BSX. State Street Corp grew its position in shares of Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after buying an additional 1,389,172 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Boston Scientific by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after buying an additional 718,515 shares during the last quarter. Geode Capital Management LLC grew its position in Boston Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after purchasing an additional 480,729 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Boston Scientific by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after purchasing an additional 64,720 shares during the last quarter. Finally, Impax Asset Management Group plc grew its position in Boston Scientific by 17.5% during the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after purchasing an additional 815,403 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Boston Scientific (NYSE:BSX)

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