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

StockNews.com downgraded shares of Boston Scientific (NYSE:BSX) from a buy rating to a hold rating in a research note issued to investors on Thursday.

Other analysts have also issued reports about the company. Truist Financial boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Raymond James boosted their price objective on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Wells Fargo & Company boosted their price objective on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Thursday, February 6th. Finally, Royal Bank of Canada boosted their price objective on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Two research 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 stock. Based on data from MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $107.39.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $104.44 on Thursday. Boston Scientific has a one year low of $65.52 and a one year high of $107.17. The firm has a market capitalization of $154.12 billion, a price-to-earnings ratio of 83.55, a PEG ratio of 2.79 and a beta of 0.80. The business has a 50-day simple moving average of $97.98 and a 200 day simple moving average of $89.38. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. On average, research analysts anticipate that Boston Scientific will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 15,087 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the transaction, the chief financial officer now directly owns 241,451 shares of the company’s stock, valued at approximately $25,369,256.57. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward J. Ludwig sold 12,000 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total value of $1,265,760.00. Following the sale, the director now owns 24,398 shares in the company, valued at approximately $2,573,501.04. This represents a 32.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,640 shares of company stock valued at $15,718,289. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Boston Scientific

Several institutional investors have recently made changes to their positions in BSX. TFC Financial Management Inc. lifted its position in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 210 shares in the last quarter. Colonial Trust Co SC lifted its position in shares of Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 260 shares in the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of Boston Scientific during the fourth quarter worth $25,000. Sunbeam Capital Management LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth $26,000. Finally, Values First Advisors Inc. purchased a new stake in shares of Boston Scientific during the third quarter worth $28,000. 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.